Commercial Vehicle Group Inc. (NASDAQ:CVGI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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, Seaport Global Securities cut shares of Commercial Vehicle Group from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Wednesday, July 6th.
Shares of Commercial Vehicle Group (NASDAQ:CVGI) traded up 0.34% during midday trading on Wednesday, hitting $5.88. 119,259 shares of the company were exchanged. The company has a 50-day moving average of $5.43 and a 200 day moving average of $4.09. The company has a market capitalization of $180.04 million, a P/E ratio of 31.11 and a beta of 1.82. Commercial Vehicle Group has a one year low of $2.02 and a one year high of $5.96.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. Commercial Vehicle Group had a net margin of 0.74% and a return on equity of 10.83%. On average, equities research analysts expect that Commercial Vehicle Group will post $0.21 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC bought a new position in Commercial Vehicle Group during the second quarter worth approximately $104,000. C M Bidwell & Associates Ltd. bought a new position in Commercial Vehicle Group during the second quarter worth approximately $131,000. Acrospire Investment Management LLC increased its position in Commercial Vehicle Group by 73.6% in the second quarter. Acrospire Investment Management LLC now owns 25,948 shares of the company’s stock worth $135,000 after buying an additional 10,998 shares during the period. LMR Partners LLP bought a new position in Commercial Vehicle Group during the second quarter worth approximately $158,000. Finally, JPMorgan Chase & Co. increased its position in Commercial Vehicle Group by 3,447.5% in the second quarter. JPMorgan Chase & Co. now owns 36,681 shares of the company’s stock worth $191,000 after buying an additional 35,647 shares during the period. 56.65% of the stock is owned by institutional investors and hedge funds.
Commercial Vehicle Group Company Profile
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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