Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, November 9th.
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 raised shares of Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th.
Commercial Vehicle Group (NASDAQ CVGI) opened at $11.49 on Thursday. The firm has a market cap of $331.42, a PE ratio of 31.79 and a beta of 0.85. Commercial Vehicle Group has a 1 year low of $4.95 and a 1 year high of $11.50. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.09 and a quick ratio of 1.44.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. Commercial Vehicle Group had a net margin of 0.82% and a return on equity of 14.58%. The company had revenue of $198.30 million during the quarter, compared to analysts’ expectations of $173.90 million. During the same quarter in the prior year, the company earned $0.07 EPS. Commercial Vehicle Group’s revenue was up 29.1% compared to the same quarter last year. sell-side analysts expect that Commercial Vehicle Group will post 0.32 EPS for the current year.
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Several hedge funds have recently modified their holdings of CVGI. Wells Fargo & Company MN lifted its holdings in shares of Commercial Vehicle Group by 54.7% in the 3rd quarter. Wells Fargo & Company MN now owns 15,312 shares of the company’s stock worth $113,000 after acquiring an additional 5,412 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Commercial Vehicle Group in the 3rd quarter worth approximately $139,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Commercial Vehicle Group by 10,810.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,020 shares of the company’s stock worth $195,000 after acquiring an additional 22,809 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Commercial Vehicle Group in the 2nd quarter worth approximately $225,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Commercial Vehicle Group in the 2nd quarter worth approximately $227,000. Hedge funds and other institutional investors own 76.04% of the company’s stock.
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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