Commercial Vehicle Group (NASDAQ:CVGI) Cut to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Commercial Vehicle Group from “strong buy” to “buy,” while the broader analyst consensus remains “hold” with an average price target of $6.00.
• CVGI reported a quarterly loss of $0.10 per share, beating estimates by $0.04, and revenue of $171.5 million, exceeding forecasts of $159.97 million. Analysts expect a full-year loss of $0.09 per share.
• The stock opened at $4.53, with a market capitalization of $165.44 million; institutional investors and hedge funds own approximately 72.32% of the company.

Commercial Vehicle Group (NASDAQ:CVGI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Sunday.

CVGI has been the subject of a number of other reports. Barrington Research reiterated an "outperform" rating and issued a $6.00 price objective on shares of Commercial Vehicle Group in a report on Monday, May 4th. Noble Financial reaffirmed an "outperform" rating on shares of Commercial Vehicle Group in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Commercial Vehicle Group in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Commercial Vehicle Group currently has an average rating of "Hold" and an average target price of $6.00.

Commercial Vehicle Group Stock Performance

NASDAQ CVGI opened at $4.53 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.69. Commercial Vehicle Group has a fifty-two week low of $1.29 and a fifty-two week high of $5.88. The business has a fifty day moving average of $4.87 and a 200-day moving average of $3.65. The stock has a market cap of $165.44 million, a price-to-earnings ratio of -8.71 and a beta of 1.43.

Commercial Vehicle Group (NASDAQ:CVGI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. Commercial Vehicle Group had a negative return on equity of 12.47% and a negative net margin of 2.70%.The business had revenue of $171.50 million during the quarter, compared to analyst estimates of $159.97 million. As a group, analysts predict that Commercial Vehicle Group will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Commercial Vehicle Group

Several large investors have recently made changes to their positions in the business. Sei Investments Co. acquired a new stake in Commercial Vehicle Group in the 1st quarter valued at approximately $1,262,000. Walleye Capital LLC bought a new position in Commercial Vehicle Group during the first quarter worth $851,000. Arrowstreet Capital Limited Partnership increased its position in Commercial Vehicle Group by 463.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 285,122 shares of the company's stock worth $485,000 after acquiring an additional 234,545 shares during the period. Laurel Oak Wealth Management LLC acquired a new position in Commercial Vehicle Group during the 1st quarter valued at $375,000. Finally, Renaissance Technologies LLC grew its position in Commercial Vehicle Group by 6.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,731,491 shares of the company's stock worth $5,904,000 after purchasing an additional 109,528 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.