Commercial Vehicle Group (NASDAQ:CVGI) PT Raised to $8.50

Commercial Vehicle Group (NASDAQ:CVGI) had its price objective lifted by Barrington Research from $7.50 to $8.50 in a report issued on Wednesday, AnalystRatings.com reports. The brokerage currently has an outperform rating on the stock. Barrington Research also issued estimates for Commercial Vehicle Group’s FY2019 earnings at $1.08 EPS.

“We have updated our full‐year estimates for 2019 to account for the completed acquisition, which now call for revenue of $932.9 million (+3.9% YOY), above our prior estimate of $923.1 million, operating income of $61.6 million (‐7.9% YOY), above our prior estimate of $59.4 million, and adjusted EPS of $1.13 (‐14.4% YOY), above our prior estimate of $1.08. Our full‐year 2020 estimates now call for revenue of $841.3 million, operating income of $60.4 million and adjusted EPS of $0.70.”,” Barrington Research’s analyst commented.

CVGI has been the subject of several other reports. BidaskClub upgraded shares of Commercial Vehicle Group from a hold rating to a buy rating in a report on Friday, July 26th. ValuEngine upgraded shares of Commercial Vehicle Group from a strong sell rating to a sell rating in a report on Thursday, August 8th. Finally, Dougherty & Co began coverage on shares of Commercial Vehicle Group in a report on Tuesday, August 27th. They issued a neutral rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Commercial Vehicle Group presently has an average rating of Buy and a consensus target price of $8.83.

Shares of CVGI opened at $7.65 on Wednesday. The stock has a market capitalization of $245.61 million, a P/E ratio of 5.24 and a beta of 2.81. The company has a quick ratio of 1.77, a current ratio of 2.45 and a debt-to-equity ratio of 1.27. The firm has a fifty day simple moving average of $6.94 and a two-hundred day simple moving average of $7.62. Commercial Vehicle Group has a twelve month low of $5.35 and a twelve month high of $9.77.

Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.23 earnings per share for the quarter. Commercial Vehicle Group had a net margin of 4.25% and a return on equity of 30.50%. The business had revenue of $243.19 million during the quarter. Sell-side analysts expect that Commercial Vehicle Group will post 1.21 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CVGI. Royce & Associates LP raised its holdings in Commercial Vehicle Group by 15.3% in the 1st quarter. Royce & Associates LP now owns 2,240,660 shares of the company’s stock worth $17,186,000 after purchasing an additional 297,233 shares in the last quarter. Vanguard Group Inc. raised its holdings in Commercial Vehicle Group by 23.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,493,459 shares of the company’s stock worth $11,977,000 after purchasing an additional 283,781 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Commercial Vehicle Group by 15.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,109,700 shares of the company’s stock worth $16,920,000 after purchasing an additional 279,300 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Commercial Vehicle Group by 3,680.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 278,943 shares of the company’s stock worth $2,178,000 after purchasing an additional 271,565 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Commercial Vehicle Group by 13.1% in the 2nd quarter. BlackRock Inc. now owns 2,080,772 shares of the company’s stock worth $16,688,000 after purchasing an additional 241,657 shares in the last quarter. Institutional investors and hedge funds own 82.03% of the company’s stock.

Commercial Vehicle Group Company Profile

Commercial Vehicle Group, Inc, together with its subsidiaries, designs, engineers, produces, and sells a range of cab related products and systems in North America, Europe, and the Asia Pacific regions. It operates through two segments, Electrical Systems and Global Seating. The Electrical Systems segment electronic provides wire harness assemblies that function as current carrying devices used to provide electrical interconnections for gauges, lights, control functions, power circuits, powertrain and transmission sensors, emissions systems, and other electronic applications on commercial vehicles; and panel assemblies and cabinets.

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