Commercial Vehicle Group (NASDAQ:CVGI – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.
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. “
A number of other research firms have also recently issued reports on CVGI. Barrington Research reiterated a “buy” rating and issued a $14.00 target price on shares of Commercial Vehicle Group in a research note on Friday, May 6th. StockNews.com cut shares of Commercial Vehicle Group from a “buy” rating to a “hold” rating in a report on Wednesday.
Shares of NASDAQ CVGI traded down $0.41 during mid-day trading on Wednesday, reaching $6.50. The company had a trading volume of 174,277 shares, compared to its average volume of 167,152. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.46 and a current ratio of 2.32. Commercial Vehicle Group has a twelve month low of $6.21 and a twelve month high of $12.95. The stock’s 50 day moving average is $7.67 and its 200-day moving average is $8.06. The stock has a market capitalization of $214.15 million, a PE ratio of 11.02, a price-to-earnings-growth ratio of 0.31 and a beta of 3.26.
Commercial Vehicle Group (NASDAQ:CVGI – Get Rating) last issued its earnings results on Monday, February 28th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $228.91 million during the quarter, compared to analyst estimates of $222.05 million. Commercial Vehicle Group had a return on equity of 22.91% and a net margin of 1.98%. During the same period in the previous year, the company earned ($0.05) earnings per share. On average, sell-side analysts anticipate that Commercial Vehicle Group will post 1 EPS for the current year.
Several institutional investors have recently modified their holdings of CVGI. Bank of America Corp DE grew its position in shares of Commercial Vehicle Group by 72.8% in the second quarter. Bank of America Corp DE now owns 5,700 shares of the company’s stock valued at $60,000 after purchasing an additional 2,401 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new position in Commercial Vehicle Group during the 1st quarter valued at $67,000. Advisor Group Holdings Inc. bought a new stake in Commercial Vehicle Group in the 1st quarter valued at $67,000. BNP Paribas Arbitrage SA grew its position in Commercial Vehicle Group by 506.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,096 shares of the company’s stock worth $77,000 after purchasing an additional 6,762 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Commercial Vehicle Group during the 3rd quarter worth about $79,000. Institutional investors and hedge funds own 59.49% of the company’s stock.
About Commercial Vehicle Group (Get Rating)
Commercial Vehicle Group, Inc, together with its subsidiaries, designs, manufactures, produces, and sells components and assemblies in North America, Europe, and the Asia-Pacific regions. It operates in four segments: Vehicle Solutions, Warehouse Automation, Electrical Systems, and Aftermarket & Accessories.
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