Trade Report: Today: Commercial Vehicle Group Inc. (CVGI) Rating Increased to Buy at Zacks Investment Research

Today: Commercial Vehicle Group Inc. (CVGI) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Commercial Vehicle Group Inc. (NASDAQ:CVGI) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $6.25 target price on the stock.

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. “

Separately, Seaport Global Securities lowered Commercial Vehicle Group from a buy rating to a neutral rating and set a $5.00 price target on the stock. in a research report on Wednesday, July 6th.

Commercial Vehicle Group (NASDAQ:CVGI) opened at 5.46 on Tuesday. The firm has a market capitalization of $167.18 million, a P/E ratio of 28.89 and a beta of 1.82. Commercial Vehicle Group has a 1-year low of $2.02 and a 1-year high of $6.00. The company has a 50-day moving average price of $5.59 and a 200 day moving average price of $4.24.

Commercial Vehicle Group (NASDAQ:CVGI) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. Commercial Vehicle Group had a return on equity of 10.83% and a net margin of 0.74%. Analysts expect that Commercial Vehicle Group will post $0.21 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC bought a new position in Commercial Vehicle Group during the second quarter worth about $104,000. C M Bidwell & Associates Ltd. bought a new position in Commercial Vehicle Group during the second quarter worth about $131,000. Acrospire Investment Management LLC raised its position in Commercial Vehicle Group by 73.6% in the second quarter. Acrospire Investment Management LLC now owns 25,948 shares of the company’s stock worth $135,000 after buying an additional 10,998 shares during the last quarter. LMR Partners LLP bought a new position in Commercial Vehicle Group during the second quarter worth about $158,000. Finally, JPMorgan Chase & Co. raised its position in Commercial Vehicle Group by 3,447.5% in the second quarter. JPMorgan Chase & Co. now owns 36,681 shares of the company’s stock worth $191,000 after buying an additional 35,647 shares during the last quarter. 56.65% of the stock is currently owned by institutional investors and hedge funds.

Commercial Vehicle Group Company Profile

Commercial Vehicle Group, Inc is a supplier of a range of cab-related products and systems. The Company operates through two segments: the Global Truck and Bus Segment (GTB Segment) and the Global Construction and Agriculture Segment (GCA Segment). The GTB Segment manufactures and sells products, which include Seats, Trim, sleeper boxes, cab structures, structural components and body panels, and mirrors and wiper systems.

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