Forager Capital Management LLC recently announced the acquisition of new stake in Commercial Vehicle Group Inc. (NASDAQ:CVGI). The institutional investor has increased its shareholding in the Consumer Cyclical company by 16.44% to 2.22 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 6.65% valued currently at $15.1 million. In addition, Royce & Associates LP raised its holdings by 0.24 million to 1.89 million shares. And Dimensional Fund Advisors LP has lifted its position by 9.28% or 98646.0 shares – to 1.16 million shares.
With over 0.11 million Commercial Vehicle Group Inc. (CVGI) shares trading Monday and a closing price of $7.37 on the day, the dollar volume was approximately $0.77 million. The shares have shown a positive half year performance of 6.97% and its price on 01/23/23 gained nearly 2.08%. Currently, there are 32.46M common shares owned by the public and among those 31.69M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for CVGI have a consensus price objective of $11.00. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $10.00. The average price target is 33.0% above its recent price level and an upside to the estimated low will see the stock gain 26.3% over that period. But an upside of 43.31% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 449,886 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 91,566 shares.
The top 3 mutual fund holders in Commercial Vehicle Group Inc. are Royce Small-Cap Opportunity Fund, Vanguard Total Stock Market Index, and 180 Degree Capital Corp. Royce Small-Cap Opportunity Fund owns 1.02 million shares of the company’s stock, all valued at over $6.97 million. The company bought an additional 0.11 million shares recently to bring their total holdings to about 3.07% of the shares outstanding. 180 Degree Capital Corp bought 0.17 million shares to bring its total holdings to over 0.52 million shares at a value of $3.51 million. 180 Degree Capital Corp now owns shares totaling to 1.54% of the shares outstanding.
Shares of Commercial Vehicle Group Inc. (NASDAQ: CVGI) opened at $7.23, up $0.01 from a prior closing price of $7.22. However, the script later moved the day high at 7.45, up 2.08%. The company’s stock has a 5-day price change of -0.41% and 80.64% over the past three months. CVGI shares are trading 8.22% year to date (YTD), with the 12-month market performance down to -9.01% lower. It has a 12-month low price of $4.03 and touched a high of $9.10 over the same period. CVGI has an average intraday trading volume of 93.64K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.01%, 7.97%, and 15.59% respectively.
Institutional ownership of Commercial Vehicle Group Inc. (NASDAQ: CVGI) shares accounts for 59.20% of the company’s 32.46M shares outstanding. Mutual fund holders own 32.46%, while other institutional holders and individual stakeholders account for 57.24% and 19.11% respectively.
It has a market capitalization of $239.45M and a beta (3y monthly) value of 3.07. The stock’s trailing 12-month PE ratio is 18.85, while the earnings-per-share (ttm) stands at $0.39. The company has a PEG of 1.57 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 1.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.53% over the week and 3.97% over the month.
Analysts forecast that Commercial Vehicle Group Inc. (CVGI) will achieve an EPS of $0.2 for the current quarter, $0.23 for the next quarter and $1.07 for 2023. The lowest estimate earnings-per-share for the quarter is $0.2 while analysts give the company a high EPS estimate of $0.2. Comparatively, EPS for the current quarter was $0.25 a year ago. Earnings per share for the fiscal year are expected to increase by 161.00%, and 37.21% over the next financial year. EPS should shrink at an annualized rate of 12.00% over the next five years, compared to 26.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Commercial Vehicle Group Inc. (CVGI) as a “Strong Buy” at a consensus score of 1.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CVGI, a number of firms have released research notes about the stock. Noble Capital Markets stated their Outperform rating for the stock in a research note on December 01, 2022, with the firm’s price target at $10. Colliers Securities coverage for the Commercial Vehicle Group Inc. (CVGI) stock in a research note released on August 11, 2020 offered a Buy rating with a price target of $6.50. Barrington Research was of a view on September 18, 2019 that the stock is Outperform, while Barrington Research gave the stock Outperform rating on August 29, 2019, issuing a price target of $7.50. Dougherty & Company on their part issued Neutral rating on August 27, 2019.