Commercial Vehicle Group (NASDAQ:CVGI) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Commercial Vehicle Group (NASDAQ:CVGI) from a sell rating to a hold rating in a report issued on Monday morning, Zacks.com reports.

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. “

A number of other research firms also recently commented on CVGI. Dougherty & Co began coverage on Commercial Vehicle Group in a report on Tuesday, August 27th. They issued a neutral rating on the stock. ValuEngine cut Commercial Vehicle Group from a sell rating to a strong sell rating in a research note on Friday, October 25th. Finally, Barrington Research reaffirmed a buy rating and issued a $8.50 price target on shares of Commercial Vehicle Group in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $8.75.

CVGI stock opened at $7.05 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.58 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $223.76 million, a PE ratio of 4.83, a P/E/G ratio of 0.64 and a beta of 2.73. Commercial Vehicle Group has a 12-month low of $5.35 and a 12-month high of $9.77. The business’s fifty day moving average price is $7.33 and its 200 day moving average price is $7.21.

Commercial Vehicle Group (NASDAQ:CVGI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The business had revenue of $225.40 million during the quarter, compared to analyst estimates of $226.20 million. Commercial Vehicle Group had a return on equity of 27.58% and a net margin of 3.82%. Research analysts predict that Commercial Vehicle Group will post 1.12 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in shares of Commercial Vehicle Group during the third quarter worth approximately $37,000. Metropolitan Life Insurance Co NY acquired a new stake in Commercial Vehicle Group during the 1st quarter worth $67,000. Russell Investments Group Ltd. increased its stake in Commercial Vehicle Group by 88.2% in the second quarter. Russell Investments Group Ltd. now owns 9,496 shares of the company’s stock valued at $76,000 after purchasing an additional 4,450 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Commercial Vehicle Group by 157.6% in the second quarter. Meeder Asset Management Inc. now owns 16,800 shares of the company’s stock valued at $134,000 after buying an additional 10,279 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Commercial Vehicle Group by 5,966.7% in the second quarter. Strs Ohio now owns 18,200 shares of the company’s stock valued at $145,000 after buying an additional 17,900 shares during the last quarter. 77.10% of the stock is owned by institutional investors and hedge funds.

About Commercial Vehicle Group

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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