Zacks Investment Research Downgrades Commercial Vehicle Group (NASDAQ:CVGI) to Hold
Zacks Investment Research cut shares of Commercial Vehicle Group (NASDAQ:CVGI – Get Rating) from a buy rating to a hold rating in a research report report published on Wednesday morning, 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. “
CVGI has been the subject of a number of other reports. StockNews.com lowered shares of Commercial Vehicle Group from a buy rating to a hold rating in a research report on Wednesday. Barrington Research restated a buy rating and set a $14.00 price target on shares of Commercial Vehicle Group in a research report on Friday, May 6th.
Commercial Vehicle Group stock opened at $6.50 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 2.32 and a debt-to-equity ratio of 1.59. The stock has a market cap of $214.18 million, a P/E ratio of 11.02, a P/E/G ratio of 0.31 and a beta of 3.26. The company’s 50 day moving average price is $7.63 and its two-hundred day moving average price is $8.05. Commercial Vehicle Group has a 52 week low of $6.21 and a 52 week high of $12.95.
Commercial Vehicle Group (NASDAQ:CVGI – Get Rating) last posted its quarterly earnings results on Monday, February 28th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The company had revenue of $228.91 million during the quarter, compared to the consensus estimate 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 last year, the firm posted ($0.05) EPS. On average, equities analysts anticipate that Commercial Vehicle Group will post 0.93 EPS for the current year.
A number of hedge funds have recently modified their holdings of CVGI. Metropolitan Life Insurance Co NY bought a new position in Commercial Vehicle Group in the first quarter worth approximately $67,000. Royal Bank of Canada raised its position in Commercial Vehicle Group by 19.6% in the second quarter. Royal Bank of Canada now owns 10,415 shares of the company’s stock worth $110,000 after acquiring an additional 1,706 shares during the period. Bank of America Corp DE raised its position in 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 worth $60,000 after acquiring an additional 2,401 shares during the period. Wells Fargo & Company MN raised its position in shares of Commercial Vehicle Group by 561.2% during the 2nd quarter. Wells Fargo & Company MN now owns 8,000 shares of the company’s stock valued at $85,000 after purchasing an additional 6,790 shares during the period. Finally, Morgan Stanley raised its position in shares of Commercial Vehicle Group by 9.3% during the 2nd quarter. Morgan Stanley now owns 410,531 shares of the company’s stock valued at $4,364,000 after purchasing an additional 34,884 shares during the period. Institutional investors 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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