Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 685,300 shares, a growth of 14.8% from the July 31st total of 597,200 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 291,500 shares, the days-to-cover ratio is currently 2.4 days.
CVGI has been the subject of a number of analyst reports. ValuEngine upgraded shares of Commercial Vehicle Group from a “strong sell” rating to a “sell” rating in a report on Thursday, August 8th. Barrington Research initiated coverage on shares of Commercial Vehicle Group in a report on Thursday, August 29th. They set an “outperform” rating and a $7.50 price objective for the company. Dougherty & Co initiated coverage on shares of Commercial Vehicle Group in a report on Tuesday, August 27th. They set a “neutral” rating for the company. Finally, BidaskClub upgraded shares of Commercial Vehicle Group from a “hold” rating to a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $8.50.
Institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC boosted its holdings in Commercial Vehicle Group by 48.0% during the first quarter. Quantamental Technologies LLC now owns 3,444 shares of the company’s stock worth $26,000 after purchasing an additional 1,117 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Commercial Vehicle Group by 62,850.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,295 shares of the company’s stock worth $48,000 after purchasing an additional 6,285 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new position in Commercial Vehicle Group during the first quarter worth about $67,000. Russell Investments Group Ltd. boosted its holdings in Commercial Vehicle Group by 88.2% during the second quarter. Russell Investments Group Ltd. now owns 9,496 shares of the company’s stock worth $76,000 after purchasing an additional 4,450 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in Commercial Vehicle Group during the first quarter worth about $112,000. Institutional investors and hedge funds own 82.10% of the company’s stock.
Commercial Vehicle Group stock traded up $0.22 during midday trading on Friday, hitting $7.22. 11,602 shares of the stock were exchanged, compared to its average volume of 334,064. Commercial Vehicle Group has a 52-week low of $5.35 and a 52-week high of $9.77. The stock has a market capitalization of $213.03 million, a price-to-earnings ratio of 4.97 and a beta of 2.81. The business’s 50-day moving average price is $7.08 and its 200-day moving average price is $7.66. The company has a quick ratio of 1.77, a current ratio of 2.45 and a debt-to-equity ratio of 1.27.
Commercial Vehicle Group (NASDAQ:CVGI) last released 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 for the quarter. On average, sell-side analysts predict that Commercial Vehicle Group will post 1.13 earnings per share for the current fiscal year.
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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