Commercial Vehicle Group (NASDAQ:CVGI) Announces Quarterly Earnings Results

Commercial Vehicle Group (NASDAQ:CVGI) posted its earnings results on Monday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.08), FiscalAI reports. Commercial Vehicle Group had a negative net margin of 2.70% and a negative return on equity of 12.47%. The firm had revenue of $195.24 million during the quarter, compared to analyst estimates of $171.61 million.

Commercial Vehicle Group Price Performance

CVGI stock traded up $0.06 during trading on Monday, hitting $4.59. The stock had a trading volume of 632,779 shares, compared to its average volume of 769,975. The stock has a market cap of $167.63 million, a price-to-earnings ratio of -8.83 and a beta of 1.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.20 and a current ratio of 2.13. The company’s 50 day moving average price is $4.87 and its two-hundred day moving average price is $3.66. Commercial Vehicle Group has a 1-year low of $1.29 and a 1-year high of $5.88.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVGI. Wall Street Zen cut shares of Commercial Vehicle Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Barrington Research restated an “outperform” rating and set a $6.00 target price on shares of Commercial Vehicle Group in a research report on Monday, May 4th. Noble Financial reaffirmed an “outperform” rating on shares of Commercial Vehicle Group in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Commercial Vehicle Group in a research report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Commercial Vehicle Group currently has an average rating of “Hold” and a consensus target price of $6.00.

Hedge Funds Weigh In On Commercial Vehicle Group

A number of institutional investors have recently modified their holdings of CVGI. Bank of America Corp DE boosted its position in Commercial Vehicle Group by 46.1% during the fourth quarter. Bank of America Corp DE now owns 32,473 shares of the company’s stock worth $81,000 after acquiring an additional 10,242 shares during the last quarter. Ironwood Investment Management LLC grew its stake in Commercial Vehicle Group by 7.0% in the 4th quarter. Ironwood Investment Management LLC now owns 637,040 shares of the company’s stock worth $917,000 after acquiring an additional 41,500 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in 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 acquiring an additional 234,545 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Commercial Vehicle Group by 88.7% during the 3rd quarter. Bridgeway Capital Management LLC now owns 117,803 shares of the company’s stock worth $200,000 after purchasing an additional 55,382 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Commercial Vehicle Group during the 2nd quarter worth $174,000. Institutional investors and hedge funds own 72.32% of the company’s stock.

Commercial Vehicle Group Company Profile

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.