Commercial Vehicle Group (NASDAQ:CVGI) Shares Cross Above 200-Day Moving Average Following Weak Earnings

Key Points

• Commercial Vehicle Group's stock crossed above its 200-day moving average after reporting earnings of ($0.09) per share, which fell short of the expected ($0.07).
• Despite missing the earnings estimate, the company reported revenues of $171.96 million, exceeding expectations of $161.63 million.
• Wall Street analysts upgraded Commercial Vehicle Group from a "sell" rating to a "hold" rating due to the stock's recent performance.

Commercial Vehicle Group, Inc. (NASDAQ:CVGI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday following a better than expected earnings announcement. The stock has a two hundred day moving average of $1.57 and traded as high as $1.95. Commercial Vehicle Group shares last traded at $1.80, with a volume of 299,429 shares trading hands.

The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $171.96 million for the quarter, compared to analysts' expectations of $161.63 million. Commercial Vehicle Group had a negative net margin of 5.66% and a negative return on equity of 7.40%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Commercial Vehicle Group from a "sell" rating to a "hold" rating in a report on Saturday, June 7th.

Institutional Investors Weigh In On Commercial Vehicle Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVGI. Sei Investments Co. purchased a new stake in Commercial Vehicle Group in the 4th quarter worth $27,000. JPMorgan Chase & Co. grew its holdings in shares of Commercial Vehicle Group by 75.9% during the fourth quarter. JPMorgan Chase & Co. now owns 127,200 shares of the company's stock worth $315,000 after buying an additional 54,867 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Commercial Vehicle Group by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 726,227 shares of the company's stock worth $1,801,000 after buying an additional 21,902 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Commercial Vehicle Group by 14.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,978,959 shares of the company's stock worth $4,908,000 after buying an additional 254,364 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Commercial Vehicle Group during the fourth quarter worth $431,000. Hedge funds and other institutional investors own 72.32% of the company's stock.

Commercial Vehicle Group Price Performance

The firm has a market cap of $65.17 million, a PE ratio of -1.56 and a beta of 2.18. The stock's fifty day moving average price is $1.67 and its 200-day moving average price is $1.56. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.41 and a quick ratio of 1.23.

About Commercial Vehicle Group

Commercial Vehicle Group, Inc, together with its subsidiaries, designs, manufactures, assembles, and sells systems, assemblies, and components to commercial and electric vehicle, and industrial automation markets in North America, Europe, and the Asia-Pacific regions. The company operates in four segments: Vehicle Solutions, Electrical Systems, Aftermarket & Accessories, and Industrial Automation.