Commercial Vehicle Group (NASDAQ:CVGI) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Commercial Vehicle Group, Inc. (NASDAQ:CVGI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.55 and traded as high as $4.75. Commercial Vehicle Group shares last traded at $4.62, with a volume of 291,079 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently commented on CVGI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Commercial Vehicle Group in a research report on Tuesday, June 9th. Barrington Research reissued an “outperform” rating and set a $6.00 price target on shares of Commercial Vehicle Group in a research report on Monday, May 4th. Wall Street Zen upgraded Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Noble Financial reaffirmed an “outperform” rating on shares of Commercial Vehicle Group in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Commercial Vehicle Group currently has a consensus rating of “Hold” and an average price target of $6.00.

Commercial Vehicle Group Stock Down 0.6%

The company has a debt-to-equity ratio of 0.69, a current ratio of 2.13 and a quick ratio of 1.20. The stock’s fifty day simple moving average is $4.91 and its 200-day simple moving average is $3.55. The stock has a market cap of $168.72 million, a P/E ratio of -8.88 and a beta of 1.43.

Commercial Vehicle Group (NASDAQ:CVGI) last issued 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. The company had revenue of $171.50 million during the quarter, compared to the consensus estimate of $159.97 million. Commercial Vehicle Group had a negative return on equity of 12.47% and a negative net margin of 2.70%. On average, research analysts anticipate that Commercial Vehicle Group, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVGI. Bank of America Corp DE grew its stake in Commercial Vehicle Group by 56,502.1% during the 1st quarter. Bank of America Corp DE now owns 105,846 shares of the company’s stock worth $361,000 after buying an additional 105,659 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Commercial Vehicle Group in the first quarter valued at $44,000. Assenagon Asset Management S.A. lifted its stake in Commercial Vehicle Group by 45.6% in the second quarter. Assenagon Asset Management S.A. now owns 114,567 shares of the company’s stock valued at $529,000 after buying an additional 35,905 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Commercial Vehicle Group during the first quarter valued at $1,262,000. Finally, Marquette Asset Management LLC acquired a new position in shares of Commercial Vehicle Group during the second quarter valued at $280,000. Institutional investors and hedge funds 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.