Zacks Investment Research Lowers Commercial Vehicle Group, Inc. (CVGI) to Hold
Zacks Investment Research downgraded shares of Commercial Vehicle Group, Inc. (NASDAQ:CVGI) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning.
According to Zacks, “Commercial Vehicle Group supplies interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market, including the heavy-duty (Class 8) truck market, the construction market and other specialized transportation markets. The company’s products include suspension seat systems, interior trim systems, such as instrument and door panels, headliners, cabinetry and floor systems, mirrors, wiper systems, controls and switches specifically designed for applications in commercial vehicle cabs. “
Separately, ValuEngine upgraded shares of Commercial Vehicle Group from a hold rating to a buy rating in a report on Tuesday, November 7th.
Commercial Vehicle Group (NASDAQ:CVGI) traded up $0.01 during mid-day trading on Thursday, hitting $9.99. 176,600 shares of the stock traded hands, compared to its average volume of 223,036. Commercial Vehicle Group has a one year low of $4.75 and a one year high of $10.43. The firm has a market cap of $306.27, a PE ratio of 29.38 and a beta of 0.85. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.09 and a quick ratio of 1.46.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.11. The business had revenue of $198.30 million during the quarter, compared to the consensus estimate of $173.90 million. Commercial Vehicle Group had a net margin of 0.82% and a return on equity of 14.58%. The business’s revenue was up 29.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. equities research analysts forecast that Commercial Vehicle Group will post 0.32 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in CVGI. Bank of New York Mellon Corp increased its holdings in shares of Commercial Vehicle Group by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 115,861 shares of the company’s stock valued at $785,000 after purchasing an additional 1,439 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Commercial Vehicle Group by 23.4% in the 1st quarter. California Public Employees Retirement System now owns 153,300 shares of the company’s stock valued at $1,038,000 after purchasing an additional 29,100 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Commercial Vehicle Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,131,065 shares of the company’s stock valued at $7,658,000 after purchasing an additional 9,295 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Commercial Vehicle Group by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,243,767 shares of the company’s stock valued at $8,420,000 after purchasing an additional 84,462 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Commercial Vehicle Group by 5.1% in the 1st quarter. Morgan Stanley now owns 329,923 shares of the company’s stock valued at $2,234,000 after purchasing an additional 16,145 shares in the last quarter. Institutional investors and hedge funds own 72.45% of the company’s stock.
About Commercial Vehicle Group
Commercial Vehicle Group, Inc is a supplier of a range of cab-related products and systems. The Company operates through two segments: the Global Truck and Bus Segment (GTB Segment) and the Global Construction and Agriculture Segment (GCA Segment). The GTB Segment manufactures and sells products, which include Seats, Trim, sleeper boxes, cab structures, structural components and body panels, and mirrors and wiper systems.
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