FY2017 EPS Estimates for Commercial Vehicle Group, Inc. (CVGI) Boosted by Seaport Global Securities
Commercial Vehicle Group, Inc. (NASDAQ:CVGI) – Stock analysts at Seaport Global Securities lifted their FY2017 earnings estimates for shares of Commercial Vehicle Group in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Shlisky now expects that the company will post earnings per share of $0.46 for the year, up from their prior estimate of $0.32.
Several other brokerages have also recently issued reports on CVGI. Zacks Investment Research raised shares of Commercial Vehicle Group from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday. ValuEngine cut shares of Commercial Vehicle Group from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, BidaskClub cut shares of Commercial Vehicle Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 11th.
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, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.11. The company had revenue of $198.30 million for the quarter, compared to analysts’ expectations of $173.90 million. Commercial Vehicle Group had a net margin of 0.82% and a return on equity of 14.58%. The business’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp grew its stake in shares of Commercial Vehicle Group by 313.7% in the 2nd quarter. Northern Trust Corp now owns 305,218 shares of the company’s stock worth $2,579,000 after purchasing an additional 231,445 shares during the last quarter. OxFORD Asset Management LLP grew its stake in shares of Commercial Vehicle Group by 14.5% in the 2nd quarter. OxFORD Asset Management LLP now owns 280,551 shares of the company’s stock worth $2,371,000 after purchasing an additional 35,464 shares during the last quarter. Ironwood Investment Management LLC grew its stake in shares of Commercial Vehicle Group by 9.6% in the 3rd quarter. Ironwood Investment Management LLC now owns 285,190 shares of the company’s stock worth $2,096,000 after purchasing an additional 25,000 shares during the last quarter. Teachers Advisors LLC acquired a new position in shares of Commercial Vehicle Group in the 2nd quarter worth approximately $378,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Commercial Vehicle Group in the third quarter worth approximately $309,000. 76.44% of the stock is currently owned by institutional investors.
About Commercial Vehicle Group
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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