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

Commercial Vehicle Group (NASDAQ:CVGI) released its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04, FiscalAI reports. The business had revenue of $171.50 million during the quarter, compared to analyst estimates of $159.97 million. Commercial Vehicle Group had a negative net margin of 2.70% and a negative return on equity of 12.32%.

Commercial Vehicle Group Stock Performance

CVGI stock traded up $0.10 during midday trading on Thursday, reaching $5.30. 829,924 shares of the company’s stock traded hands, compared to its average volume of 941,017. Commercial Vehicle Group has a 52-week low of $1.01 and a 52-week high of $5.50. The stock has a market cap of $193.99 million, a P/E ratio of -10.15 and a beta of 1.35. The company has a current ratio of 2.43, a quick ratio of 1.34 and a debt-to-equity ratio of 0.78. The stock’s 50-day moving average is $3.33 and its 200 day moving average is $2.21.

Analyst Ratings Changes

CVGI has been the subject of a number of analyst reports. Barrington Research restated an “outperform” rating and set a $6.00 price objective on shares of Commercial Vehicle Group in a research note on Monday. Wall Street Zen lowered shares of Commercial Vehicle Group from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Noble Financial reissued an “outperform” rating on shares of Commercial Vehicle Group in a report on Thursday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Commercial Vehicle Group in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Commercial Vehicle Group currently has a consensus rating of “Hold” and an average target price of $6.00.

Institutional Trading of Commercial Vehicle Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVGI. XTX Topco Ltd bought a new position in shares of Commercial Vehicle Group in the second quarter worth approximately $174,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Commercial Vehicle Group by 463.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 285,122 shares of the company’s stock worth $485,000 after purchasing an additional 234,545 shares during the period. Ironwood Investment Management LLC boosted its position in shares of Commercial Vehicle Group by 7.0% in the fourth quarter. Ironwood Investment Management LLC now owns 637,040 shares of the company’s stock worth $917,000 after purchasing an additional 41,500 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Commercial Vehicle Group by 88.7% in the third quarter. Bridgeway Capital Management LLC now owns 117,803 shares of the company’s stock worth $200,000 after purchasing an additional 55,382 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Commercial Vehicle Group by 14.8% in the fourth quarter. Jane Street Group LLC now owns 90,989 shares of the company’s stock worth $131,000 after purchasing an additional 11,742 shares during the period. 72.32% of the stock is owned by hedge funds and other institutional investors.

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.