Commercial Vehicle Group Inc. (CVGI) Upgraded at Zacks Investment Research
Commercial Vehicle Group Inc. (NASDAQ:CVGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $6.25 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 10.62% from the stock’s previous close.
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 lowered Commercial Vehicle Group from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Wednesday, July 6th.
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Commercial Vehicle Group (NASDAQ:CVGI) traded down 0.70% during trading on Tuesday, hitting $5.65. The stock had a trading volume of 91,968 shares. The firm has a market cap of $173.00 million, a price-to-earnings ratio of 29.89 and a beta of 1.82. The firm’s 50 day moving average is $5.55 and its 200 day moving average is $4.19. Commercial Vehicle Group has a 1-year low of $2.02 and a 1-year high of $6.00.
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, topping analysts’ consensus estimates of $0.04 by $0.06. Commercial Vehicle Group had a return on equity of 10.83% and a net margin of 0.74%. On average, analysts anticipate that Commercial Vehicle Group will post $0.21 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of CVGI. Neuberger Berman Group LLC acquired a new position in shares of Commercial Vehicle Group during the second quarter worth $104,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Commercial Vehicle Group during the second quarter worth $131,000. Acrospire Investment Management LLC increased its position in shares of 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 in the last quarter. LMR Partners LLP acquired a new position in shares of Commercial Vehicle Group during the second quarter worth $158,000. Finally, JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 56.65% 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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