Zacks Investment Research Upgrades Commercial Vehicle Group (CVGI) to Strong-Buy

Commercial Vehicle Group (NASDAQ:CVGI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm presently has a $13.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 0.62% from the company’s current price.

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 brokerages have also issued reports on CVGI. ValuEngine lowered Commercial Vehicle Group from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub lowered Commercial Vehicle Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 11th.

Commercial Vehicle Group (NASDAQ:CVGI) opened at $12.92 on Wednesday. Commercial Vehicle Group has a fifty-two week low of $5.17 and a fifty-two week high of $13.66. The stock has a market capitalization of $398.31, a P/E ratio of 64.60 and a beta of 1.00. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.09 and a quick ratio of 1.44.

Commercial Vehicle Group (NASDAQ:CVGI) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. Commercial Vehicle Group had a return on equity of 14.58% and a net margin of 0.82%. The business had revenue of $198.30 million during the quarter, compared to analyst estimates of $173.90 million. During the same period in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. analysts anticipate that Commercial Vehicle Group will post 0.32 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CVGI. Schwab Charles Investment Management Inc. bought a new position in Commercial Vehicle Group during the 2nd quarter valued at $359,000. Rhumbline Advisers bought a new position in Commercial Vehicle Group during the 2nd quarter valued at $225,000. Bank of New York Mellon Corp boosted its stake in Commercial Vehicle Group by 58.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 183,091 shares of the company’s stock valued at $1,547,000 after purchasing an additional 67,230 shares in the last quarter. Teachers Advisors LLC bought a new position in Commercial Vehicle Group during the 2nd quarter valued at $378,000. Finally, TIAA CREF Investment Management LLC bought a new position in Commercial Vehicle Group during the 2nd quarter valued at $910,000. 76.44% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Zacks Investment Research Upgrades Commercial Vehicle Group (CVGI) to Strong-Buy” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.dispatchtribunal.com/2018/01/19/zacks-investment-research-upgrades-commercial-vehicle-group-cvgi-to-strong-buy-2.html.

About Commercial Vehicle Group

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.

Receive News & Ratings for Commercial Vehicle Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Vehicle Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply