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

Commercial Vehicle Group (NASDAQ:CVGIGet Free Report) released its quarterly earnings results on Monday. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.08), FiscalAI reports. Commercial Vehicle Group had a negative net margin of 3.42% and a negative return on equity of 13.97%. The company had revenue of $195.24 million during the quarter, compared to analyst estimates of $171.58 million.

Commercial Vehicle Group Stock Down 16.4%

CVGI stock opened at $3.83 on Wednesday. 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 company has a 50-day moving average of $4.83 and a two-hundred day moving average of $3.70. The stock has a market capitalization of $140.05 million, a price-to-earnings ratio of -7.38 and a beta of 1.45. Commercial Vehicle Group has a 52-week low of $1.29 and a 52-week high of $5.88.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVGI. Virtu Financial LLC bought a new position in shares of Commercial Vehicle Group during the 4th quarter worth about $33,000. Engineers Gate Manager LP raised its stake in shares of Commercial Vehicle Group by 87.1% in the second quarter. Engineers Gate Manager LP now owns 20,116 shares of the company’s stock valued at $33,000 after purchasing an additional 9,364 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Commercial Vehicle Group during the 2nd quarter valued at about $78,000. Bank of America Corp DE grew its stake in shares of Commercial Vehicle Group by 46.1% in the 4th quarter. Bank of America Corp DE now owns 32,473 shares of the company’s stock valued at $81,000 after purchasing an additional 10,242 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Commercial Vehicle Group during the 2nd quarter worth approximately $84,000. 72.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Check Out Our Latest Research Report on Commercial Vehicle Group

About Commercial Vehicle Group

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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.

Further Reading

Earnings History for Commercial Vehicle Group (NASDAQ:CVGI)

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