Commercial Vehicle Group, Inc. (NASDAQ:CVGI – Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.43 and traded as high as $4.74. Commercial Vehicle Group shares last traded at $4.69, with a volume of 184,424 shares trading hands.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Commercial Vehicle Group in a report on Tuesday, June 9th. Noble Financial reiterated an “outperform” rating on shares of Commercial Vehicle Group in a research note on Thursday, May 7th. Barrington Research reaffirmed an “outperform” rating and issued a $6.00 price objective on shares of Commercial Vehicle Group in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Commercial Vehicle Group currently has a consensus rating of “Hold” and a consensus price target of $6.00.
Commercial Vehicle Group Stock Down 3.4%
Commercial Vehicle Group (NASDAQ:CVGI – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The company had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $159.97 million. Commercial Vehicle Group had a negative net margin of 2.70% and a negative return on equity of 12.47%. As a group, research analysts expect that Commercial Vehicle Group, Inc. will post -0.09 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in CVGI. Assenagon Asset Management S.A. grew its position in Commercial Vehicle Group by 45.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 114,567 shares of the company’s stock worth $529,000 after purchasing an additional 35,905 shares during the period. NewEdge Advisors LLC purchased a new position in Commercial Vehicle Group during the first quarter valued at $44,000. Bank of America Corp DE raised its holdings in shares of 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 acquiring an additional 105,659 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Commercial Vehicle Group by 6.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,731,491 shares of the company’s stock valued at $5,904,000 after acquiring an additional 109,528 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Commercial Vehicle Group by 20.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 281,590 shares of the company’s stock worth $960,000 after buying an additional 46,898 shares during the period. 72.32% of the stock is owned by hedge funds and other institutional investors.
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.
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