Commercial Vehicle Group (NASDAQ:CVGI) Rating Increased to Hold at Zacks Investment Research

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Commercial Vehicle Group (NASDAQ:CVGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, 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. “

Other equities analysts also recently issued research reports about the stock. Barrington Research restated a “buy” rating and issued a $8.50 price objective on shares of Commercial Vehicle Group in a research note on Friday, November 22nd. Dougherty & Co began coverage on Commercial Vehicle Group in a research report on Tuesday, August 27th. They set a “neutral” rating on the stock. Finally, ValuEngine downgraded Commercial Vehicle Group from a “sell” rating to a “strong sell” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Commercial Vehicle Group currently has a consensus rating of “Hold” and an average price target of $8.75.

CVGI stock opened at $7.03 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.58 and a debt-to-equity ratio of 1.25. Commercial Vehicle Group has a twelve month low of $5.35 and a twelve month high of $9.77. The company’s 50 day moving average is $7.33 and its two-hundred day moving average is $7.21. The stock has a market cap of $223.76 million, a P/E ratio of 4.82, a PEG ratio of 0.64 and a beta of 2.73.

Commercial Vehicle Group (NASDAQ:CVGI) last issued its earnings results on Wednesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $226.20 million. Commercial Vehicle Group had a net margin of 3.82% and a return on equity of 27.58%. On average, equities research analysts predict that Commercial Vehicle Group will post 1.12 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of CVGI. Tower Research Capital LLC TRC purchased a new position in shares of Commercial Vehicle Group during the third quarter worth approximately $37,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Commercial Vehicle Group in the 1st quarter valued at $67,000. Russell Investments Group Ltd. raised its position in Commercial Vehicle Group by 88.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 9,496 shares of the company’s stock valued at $76,000 after purchasing an additional 4,450 shares during the last quarter. Meeder Asset Management Inc. raised its position in Commercial Vehicle Group by 157.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 16,800 shares of the company’s stock valued at $134,000 after purchasing an additional 10,279 shares during the last quarter. Finally, Strs Ohio boosted its stake in Commercial Vehicle Group by 5,966.7% during the 2nd quarter. Strs Ohio now owns 18,200 shares of the company’s stock worth $145,000 after purchasing an additional 17,900 shares during the period. 77.10% of the stock is owned by institutional investors and hedge funds.

Commercial Vehicle Group Company Profile

Commercial Vehicle Group, Inc, together with its subsidiaries, designs, engineers, produces, and sells a range of cab related products and systems in North America, Europe, and the Asia Pacific regions. It operates through two segments, Electrical Systems and Global Seating. The Electrical Systems segment electronic provides wire harness assemblies that function as current carrying devices used to provide electrical interconnections for gauges, lights, control functions, power circuits, powertrain and transmission sensors, emissions systems, and other electronic applications on commercial vehicles; and panel assemblies and cabinets.

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