Zacks Investment Research Upgrades Commercial Vehicle Group (NASDAQ:CVGI) to “Hold”

Zacks Investment Research upgraded shares of Commercial Vehicle Group (NASDAQ:CVGI) from a sell rating to a hold rating in a report published on Monday, reports.

According to Zacks, “Commercial Vehicle Group supplies interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market, including the heavy-duty (Class 8) truck market, the construction market and other specialized transportation markets. The company’s products include suspension seat systems, interior trim systems, such as instrument and door panels, headliners, cabinetry and floor systems, mirrors, wiper systems, controls and switches specifically designed for applications in commercial vehicle cabs. “

A number of other analysts have also recently weighed in on the company. Barrington Research restated a buy rating and issued a $8.50 price target on shares of Commercial Vehicle Group in a research note on Friday, November 22nd. ValuEngine downgraded Commercial Vehicle Group from a sell rating to a strong sell rating in a report on Friday, October 25th. Finally, Dougherty & Co started coverage on Commercial Vehicle Group in a research report on Tuesday, August 27th. They set a neutral rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $8.75.

NASDAQ CVGI opened at $6.95 on Monday. Commercial Vehicle Group has a 52 week low of $5.35 and a 52 week high of $9.77. The firm has a 50 day moving average of $7.31 and a two-hundred day moving average of $7.20. The stock has a market capitalization of $219.69 million, a PE ratio of 4.76, a price-to-earnings-growth ratio of 0.64 and a beta of 2.73. The company has a quick ratio of 1.58, a current ratio of 2.25 and a debt-to-equity ratio of 1.25.

Commercial Vehicle Group (NASDAQ:CVGI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $226.20 million. Commercial Vehicle Group had a net margin of 3.82% and a return on equity of 27.58%. On average, equities research analysts expect that Commercial Vehicle Group will post 1.12 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CVGI. Metropolitan Life Insurance Co NY purchased a new position in shares of Commercial Vehicle Group in the 1st quarter valued at $67,000. Strs Ohio boosted its stake in Commercial Vehicle Group by 5,966.7% in the second quarter. Strs Ohio now owns 18,200 shares of the company’s stock valued at $145,000 after acquiring an additional 17,900 shares in the last quarter. Bowling Portfolio Management LLC acquired a new position in Commercial Vehicle Group in the second quarter valued at $1,380,000. Systematic Financial Management LP grew its holdings in shares of Commercial Vehicle Group by 12.2% during the second quarter. Systematic Financial Management LP now owns 90,979 shares of the company’s stock worth $730,000 after purchasing an additional 9,870 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Commercial Vehicle Group by 157.6% during the second quarter. Meeder Asset Management Inc. now owns 16,800 shares of the company’s stock worth $134,000 after purchasing an additional 10,279 shares during the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.

About Commercial Vehicle Group

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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