Commercial Vehicle Group Stock (NASDAQ: CVGI)

Commercial Vehicle Group (NASDAQ:CVGI) Stock

Commercial Vehicle Group

Commercial Vehicle Group Inc is a supplier of cab-related products and systems. Its operating segments are Vehicle Solutions, Industrial Automation, Electrical Systems, and Aftermarket and Accessories. Vehicle Solutions segment designs manufacture and sell Commercial vehicle seats and Plastic components. Warehouse Automation segment designs, manufactures, and sells Warehouse automation subsystems including control panels, electro-mechanical assemblies, cable assemblies, and power and communication solutions. Electrical Systems segment designs, manufactures and sells cable and harness assemblies for both high and low voltage applications, control boxes, dashboard assemblies, and design and engineering for these applications. The company makes majority of its revenue from Vehicle Solutions.

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Commercial Vehicle Group, Inc. - Common Stock

Commercial Vehicle Group Inc

Commercial Vehicle Group (the "Company" or "CVG") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>), a diversified industrial products and services company, today announced that its Board of Directors has authorized the Company to implement a new organizational structure designed to enhance alignment with its customers and end markets, effective January 1, 2025.
Under this new structure, CVG will reorganize its vertical business units into the following three operating divisions and reporting segments.
<ul>
<li>Global Electrical Systems</li>
<li>Global Seating</li>
<li>Trim Systems and Components &nbsp;</li>
</ul>
As part of this realignment, the Company's Aftermarket &amp; Accessories business unit will be absorbed in these three segments. Its seating and electrical portfolio will transition to Global Seating and Global Electrical Systems, respectively. Its wiper systems will become part of the newly formed Trim Systems and Components business unit in addition to the trim and components&nbsp;businesses from the prior Vehicle Solutions segment.

CVG Announced New Organizational Structure With Three Operating Divisions: Global Electrical Systems, Global Seating, and Trim Systems And Components; Effective January 1, 2025

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Shares of machinery companies are trading higher. Investors may be reacting to the US presidential election and its impact on the industry.

<h3>Gainers</h3>
<ul>
<li>Zoomcar Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) stock moved upwards by 129.5% to $9.25 during Tuesday's regular session. The market value of their outstanding shares is at $7.0 million. </li>
<li>Aris Water Solutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARIS#NYSE">ARIS</a>) stock increased by 26.26% to $20.91. The market value of their outstanding shares is at $639.1 million. As per the press release, Q3 earnings came out yesterday. </li>
<li>Agrify (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGFY#NASDAQ">AGFY</a>) shares rose 24.84% to $3.92. The market value of their outstanding shares is at $5.2 million. </li>
<li>Li-Cycle Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LICY#NYSE">LICY</a>) stock moved upwards by 22.71% to $3.35. The company's market cap stands at $77.7 million. </li>
<li>DXP Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXPE#NASDAQ">DXPE</a>) shares rose 20.64% to $61.43. The company's market cap stands at $969.9 million. As per the press release, Q3 earnings came out yesterday. </li>
<li>WANG &amp; LEE Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLGS#NASDAQ">WLGS</a>) shares increased by 17.45% to $3.23. The market value of their outstanding shares is at $48.7 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>JELD-WEN Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JELD#NYSE">JELD</a>) shares declined by 28.5% to $10.11 during Tuesday's regular session. The market value of their outstanding shares is at $854.5 million. The company's, Q3 earnings came out yesterday. </li>
<li>Vast Renewables (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTE#NASDAQ">VSTE</a>) stock decreased by 23.27% to $5.18. The company's market cap stands at $155.2 million. </li>
<li>Hudson Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDSN#NASDAQ">HDSN</a>) shares decreased by 22.4% to $5.89. The market value of their outstanding shares is at $268.0 million. The company's, Q3 earnings came out yesterday. </li>
<li>Commercial Vehicle Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) shares fell 21.76% to $2.41. The company's market cap stands at $83.1 million. As per the press release, Q3 earnings came out yesterday. </li>
<li>Hyster Yale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HY#NYSE">HY</a>) shares declined by 18.12% to $51.33. The market value of their outstanding shares is at $898.2 million. As per the news, the Q3 earnings report came out today. </li>
<li>1847 Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#AMEX">EFSH</a>) stock declined by 15.04% to $0.25. 
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</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Industrials Stocks Moving In Tuesday's Intraday Session

Commercial Vehicle Group shares are trading lower after the company reported worse-than-expected Q3 financial results and cut its FY24 guidance.

Guidance

Commercial Vehicle Group Revises FY24 Adjusted EBITDA Guidance From $28M-$36M To $20M-$25M.

Commercial Vehicle Group Revises FY24 Net Sales Guidance From $730M-$780M To $710M-$740M Vs $906.592M Est

Commercial Vehicle Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) reported quarterly losses of $(0.01) per share which missed the analyst consensus estimate of $0.04 by 125 percent. The company reported quarterly sales of $171.800 million which missed the analyst consensus estimate of $222.081 million by 22.64 percent. This is a 30.36 percent decrease over sales of $246.687 million the same period last year.

Earnings Misses

Commercial Vehicle Group Q3 2024 Adj. EPS $(0.01) Misses $0.04 Estimate, Sales $171.800M Miss $222.081M Estimate

Commercial Vehicle Group Cuts FY24 Net Sales Forecast From $915M - $1.015B To $900M - $960M, Est $936.515M

Andy Cheung, Chief Financial Officer, added, &quot;We are taking swift action to respond to the end market and operational challenges through restructuring and headcount reduction efforts to improve profitability. We&#39;ve incurred&nbsp;$6.8 million&nbsp;in restructuring expenses year-to-date and have reduced our headcount by more than&nbsp;10%. Additionally, we have made progress on the strategic evaluation of our Industrial Automation segment, which we believe will culminate in the&nbsp;third quarter&nbsp;of this year and is reflected in our&nbsp;guidance. We are adjusting our annual&nbsp;guidance&nbsp;ranges for fiscal year 2024 to reflect current market trends to include the deterioration in global construction and agriculture markets, and we are providing an adjusted version of the updated&nbsp;guidance&nbsp;for the Cab Structures and Industrial Automation businesses. Following closing, we anticipate that the majority of the disposition proceeds will support debt paydown as we further strengthen our balance sheet.&quot;

Commercial Vehicle Group Says Taking Swift Action To Respond To End Market And Operational Challenges Through Restructuring And Headcount Reduction Efforts To Improve Profitability

Commercial Vehicle Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) reported quarterly earnings of $0.06 per share which missed the analyst consensus estimate of $0.17 by 64.71 percent. This is a 81.25 percent decrease over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $229.906 million which missed the analyst consensus estimate of $237.725 million by 3.29 percent. This is a 12.31 percent decrease over sales of $262.194 million the same period last year.

Commercial Vehicle Group Q2 2024 Adj. EPS $0.06 Misses $0.17 Estimate, Sales $229.906M Miss $237.725M Estimate

Barrington Research analyst Gary Prestopino maintains Commercial Vehicle Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) with a Outperform and maintains $10 price target.

Price Target

Analyst Ratings

Barrington Research Maintains Outperform on Commercial Vehicle Group, Maintains $10 Price Target

Divestiture streamlines CVG's focus Important milestone in ongoing long-term growth strategy
NEW ALBANY, Ohio, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Commercial Vehicle Group (the "Company" or "CVG") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>), a diversified industrial products and services company, today announced it reached an agreement to sell its Cab Structures business with operations in Kings Mountain, North Carolina to a Volvo Group company, effective July 31, 2024. The net proceeds of the transaction are expected to be $40 million, with closure expected in the second half of 2024. The Company expects the majority of proceeds to be used for debt paydown and other general corporate purposes.
&nbsp;
CVG expects to update its full-year 2024 outlook to reflect the impact of the Cab Structures business divestiture in its second quarter 2024 earnings release expected to be released on August 5, 2024.

Asset Sales

Commercial Vehicle Group Announces Sale Of Cab Structures Business With Operations In Kings Mountain, North Carolina To A Volvo Group Company, Effective July 31, 2024 With Net Proceeds Of ~$40M; CVG Expects To Update Its FY24 Outlook The Divestiture In Q2 2024

Commercial Vehicle Group Retained An Investment Banking Firm To Explore Strategic Alternatives For Industrial Automation Business

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) to report quarterly earnings at $1.10 per share on revenue of $22.12 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Disney shares rose 0.4% to $116.88 in after-hours trading.</li>
<li>UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) posted better-than-expected results for its first quarter on Monday. UBS shares gained 0.5% to $27.73 in the after-hours trading session.</li>
<li>Analysts are expecting Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) to post quarterly earnings at $1.52 per share on revenue of $1.77 billion. The company will release earnings after the markets close. Electronic Arts shares gained 0.6% to $131.37 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
<ul>
<li>Commercial Vehicle Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) posted downbeat results for its first quarter on Monday. Commercial Vehicle posted adjusted earnings of 13 cents per share, missing expectations of 18 cents per share. The company said it sees FY24 revenue of $915 million to $1.015 billion, versus market estimates of $968.909 million. Commercial Vehicle shares fell 2% to $5.90 in the after-hours trading session.</li>
<li>Analysts expect McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>) to post quarterly earnings at $6.34 per share on revenue of $79.2327 billion after the closing bell. McKesson shares rose 0.9% to close at $533.41 on Monday.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38638989/wall-streets-most-accurate-analysts-views-on-3-consumer-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Consumer Stocks Delivering High-Dividend Yields</a>

Commercial Vehicle Group Sees FY24 Revenue $915M-$1.015B Vs $968.909M Est.

Commercial Vehicle Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) reported quarterly earnings of $0.13 per share which missed the analyst consensus estimate of $0.18 by 27.78 percent. The company reported quarterly sales of $232.068 million which missed the analyst consensus estimate of $240.875 million by 3.66 percent. This is a 11.66 percent decrease over sales of $262.709 million the same period last year.

Commercial Vehicle Group Q1 2024 Adj EPS $0.13 Misses $0.18 Estimate, Sales $232.068M Miss $240.875M Estimate

Ratings for Commercial Vehicle Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $10.0, a high estimate of $10.00, and a low estimate of $10.00. No alteration is observed as the current average remains at the previous average price target. 
<img src="https://www.benzinga.com/files/images/story/2024/1715018438_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The analysis of recent analyst actions sheds light on the perception of Commercial Vehicle Group by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$10.00</td>
<td>$10.00</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$10.00</td>
<td>-</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$10.00</td>
<td>-</td>
</tr>
<tr>
<td>Gary Prestopino</td>
<td>Barrington Research</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$10.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Commercial Vehicle Group. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Commercial Vehicle Group compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Commercial Vehicle Group's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Commercial Vehicle Group's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CVGI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Commercial Vehicle Group analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into Commercial Vehicle Group's Background</h2>
Commercial Vehicle Group Inc is a supplier of cab-related products and systems. Its operating segments are Vehicle Solutions, Industrial Automation, Electrical Systems, and Aftermarket and Accessories. Vehicle Solutions segment designs manufacture and sell Commercial vehicle seats and Plastic components. Warehouse Automation segment designs, manufactures, and sells Warehouse automation subsystems including control panels, electro-mechanical assemblies, cable assemblies, and power and communication solutions. Electrical Systems segment designs, manufactures and sells cable and harness assemblies for both high and low voltage applications, control boxes, dashboard assemblies, and design and engineering for these applications. The company makes majority of its revenue from Vehicle Solutions.
<h3>Commercial Vehicle Group: Delving into Financials</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Commercial Vehicle Group faced challenges, resulting in a decline of approximately -5.04% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Commercial Vehicle Group's net margin is impressive, surpassing industry averages. With a net margin of 10.44%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 14.57%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Commercial Vehicle Group's ROA stands out, surpassing industry averages. With an impressive ROA of 4.75%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Commercial Vehicle Group's debt-to-equity ratio is below the industry average. With a ratio of 1.0, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Basics of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Commercial Vehicle Group: Insights From 4 Analyst Reviews

Barrington Research analyst Gary Prestopino reiterates Commercial Vehicle Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGI#NASDAQ">CVGI</a>) with a Outperform and maintains $10 price target.

Reiteration

Barrington Research Reiterates Outperform on Commercial Vehicle Group, Maintains $10 Price Target

Press Releases

CVG Announces Participation in the Barrington Research Fall Investment Conference

CVG Announces Participation in the Sidoti Virtual Small-Cap Investor Conference

Commercial Vehicle Group Completes Sale of Cab Structures Business

CVG Announces Third Quarter 2024 Earnings Call

Commercial Vehicle Group Announces New Executive Appointments to Accelerate Performance

CVG Reports Third Quarter 2024 Results

Commercial Vehicle Group Announces Departure of Carlos Jimenez

Woodson Equity Acquires Commercial Vehicle Group's First Source Electronics Business

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