Commercial Vehicle Group (CVGI) Rating Increased to Strong-Buy at Zacks Investment Research
Commercial Vehicle Group (NASDAQ:CVGI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The firm presently has a $13.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 1.64% from the stock’s current price.
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 several other research reports. BidaskClub lowered shares of Commercial Vehicle Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 11th. ValuEngine lowered shares of Commercial Vehicle Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
Commercial Vehicle Group (NASDAQ:CVGI) last released its quarterly earnings results on Monday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. The business had revenue of $198.30 million during the quarter, compared to analyst estimates of $173.90 million. Commercial Vehicle Group had a net margin of 0.82% and a return on equity of 14.58%. The company’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. sell-side analysts predict that Commercial Vehicle Group will post 0.32 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in shares of Commercial Vehicle Group by 54.7% during the third 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 bought a new position in shares of Commercial Vehicle Group during the third quarter worth about $139,000. Neuberger Berman Group LLC bought a new position in shares of Commercial Vehicle Group during the second quarter worth about $104,000. Trexquant Investment LP bought a new position in Commercial Vehicle Group in the 1st quarter valued at about $155,000. Finally, BlueCrest Capital Management Ltd bought a new position in Commercial Vehicle Group in the 1st quarter valued at about $155,000. Institutional investors and hedge funds own 76.44% 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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