Commercial Vehicle Group (NASDAQ:CVGI) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Commercial Vehicle Group (NASDAQ:CVGI) announced its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04, FiscalAI reports. The company had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $159.97 million. Commercial Vehicle Group had a negative return on equity of 11.74% and a negative net margin of 3.51%.

Commercial Vehicle Group Stock Up 23.0%

Shares of NASDAQ:CVGI traded up $0.97 during midday trading on Wednesday, hitting $5.19. The stock had a trading volume of 623,739 shares, compared to its average volume of 929,268. Commercial Vehicle Group has a 12 month low of $1.00 and a 12 month high of $5.40. The company has a quick ratio of 1.34, a current ratio of 2.43 and a debt-to-equity ratio of 0.78. The business’s 50-day simple moving average is $3.26 and its 200-day simple moving average is $2.18. The company has a market cap of $190.11 million, a P/E ratio of -7.72 and a beta of 1.35.

Hedge Funds Weigh In On Commercial Vehicle Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP grew its holdings in Commercial Vehicle Group by 87.1% during the second quarter. Engineers Gate Manager LP now owns 20,116 shares of the company’s stock worth $33,000 after purchasing an additional 9,364 shares during the period. Virtu Financial LLC bought a new position in Commercial Vehicle Group during the fourth quarter worth about $33,000. Bank of America Corp DE grew its holdings in Commercial Vehicle Group by 46.1% during the fourth quarter. Bank of America Corp DE now owns 32,473 shares of the company’s stock worth $81,000 after purchasing an additional 10,242 shares during the period. Qube Research & Technologies Ltd bought a new position in Commercial Vehicle Group during the second quarter worth about $78,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Commercial Vehicle Group during the second quarter worth about $84,000. Institutional investors own 72.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVGI. Barrington Research restated an “outperform” rating and issued a $6.00 price objective on shares of Commercial Vehicle Group in a report on Monday. Wall Street Zen cut Commercial Vehicle Group from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Commercial Vehicle Group in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.00.

About Commercial Vehicle Group

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.