Commercial Vehicle Group (NASDAQ:CVGI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Commercial Vehicle Group, Inc. (NASDAQ:CVGI) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.72 and traded as high as $5.88. Commercial Vehicle Group shares last traded at $5.7850, with a volume of 633,948 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barrington Research reissued an “outperform” rating and set a $6.00 price objective on shares of Commercial Vehicle Group in a research note on Monday, May 4th. Wall Street Zen raised Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Noble Financial reissued an “outperform” rating on shares of Commercial Vehicle Group in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Commercial Vehicle Group has a consensus rating of “Hold” and an average price target of $6.00.

Commercial Vehicle Group Price Performance

The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.69. The company has a market cap of $209.76 million, a PE ratio of -11.13 and a beta of 1.40. The stock has a 50-day simple moving average of $4.46 and a 200 day simple moving average of $2.72.

Commercial Vehicle Group (NASDAQ:CVGI) last posted its earnings results on Tuesday, May 5th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. Commercial Vehicle Group had a negative return on equity of 12.47% and a negative net margin of 2.70%.The company had revenue of $171.50 million for the quarter, compared to the consensus estimate of $159.97 million. Equities analysts expect that Commercial Vehicle Group, Inc. will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Commercial Vehicle Group

Several institutional investors and hedge funds have recently modified their holdings of CVGI. Sei Investments Co. purchased a new stake in shares of Commercial Vehicle Group in the 1st quarter valued at $1,262,000. Walleye Capital LLC purchased a new stake in shares of Commercial Vehicle Group in the 1st quarter valued at $851,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Commercial Vehicle Group by 463.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 285,122 shares of the company’s stock valued at $485,000 after buying an additional 234,545 shares during the period. Laurel Oak Wealth Management LLC purchased a new stake in shares of Commercial Vehicle Group in the 1st quarter valued at $375,000. Finally, Renaissance Technologies LLC increased its holdings in Commercial Vehicle Group by 6.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,731,491 shares of the company’s stock worth $5,904,000 after purchasing an additional 109,528 shares during the period. Hedge funds and other institutional investors own 72.32% of the company’s stock.

About Commercial Vehicle Group

Commercial Vehicle Group, Inc (NASDAQ: CVGI) is a global designer, engineer and manufacturer of seating systems and interior components for commercial vehicles. The company serves original equipment manufacturers (OEMs) in the on‐highway, off‐highway and specialty vehicle markets, supplying complete seating assemblies, suspension mechanisms and interior trim products. CVGI’s offerings are aimed at enhancing driver comfort, safety and overall vehicle usability across a diverse range of applications, from heavy‐duty trucks and transit buses to agricultural and construction equipment.

The company’s product portfolio is organized around three core segments: Seating, Controls and Interiors.