Commercial Vehicle Group, Inc. (NASDAQ:CVGI) is a stock to watch today. At current price of $6.98, the shares have already added 0.18 points (2.65% higher) from its previous close of $6.8. The stock sets an active trading volume day with a reported 235125 contracts so far this session. CVGI shares had a relatively better volume day versus average trading capacity of 300.43 thousand shares, but with a 30.11 million float and a 17.44% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CVGI stock indicates that the average analyst price target is $7.5 per share. This means the stock has a potential increase of 7.45% from where the CVGI share price has been trading recently which is between $6.42 and $6.83. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $7.5.
The shorts are climbing into Commercial Vehicle Group, Inc. (CVGI) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in CVGI shares. While short interest still represents only 2.28% of CVGI’s float, the number of shares shorted have risen by 88090. The number of shares shorted advanced to 685288 shares, up from 597198 shares during the preceding fortnight. With average daily trading volumes at 341629 shares, days to cover decreased to about 3.437131 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Boasting A 29% Return On Equity, Is Commercial Vehicle Group, Inc. (NASDAQ:CVGI) A Top Quality Stock?” and dated September 07, 2019.
During the recent trading session for Commercial Vehicle Group, Inc. (NASDAQ:CVGI), the company witnessed their stock rise $0.91 over a week and tumble down $-0.31 from the price 20 days ago. When compared to their established 52-week high of $9.77, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/23/19. The recent low of $5.35 stood for a -28.56% since 12/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.74 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Commercial Vehicle Group, Inc., the two-week RSI stands at 53.78. This figure suggests that CVGI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CVGI readings is similarly very revealing as it has a stochastic reading of 77.58% at this stage. This figure means that CVGI share price today is being oversold.
Technical chart claims that Commercial Vehicle Group, Inc. (CVGI) would settle between $6.95/share to $7.09/share level. However, if the stock price goes below the $6.54 mark, then the market for Commercial Vehicle Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.27 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.35. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Barrington Research, assumed coverage of CVGI assigning Outperform rating, according to their opinion released on August 29. Dougherty & Company, analysts launched coverage of Commercial Vehicle Group, Inc. (NASDAQ:CVGI) stock with a Neutral recommendation, according to their flash note issued to investors on August 27. Analysts at Seaport Global Securities, made their first call for the equity with a Buy recommendation, according to a research note that dated back to December 11.
CVGI equity has an average rating of 2, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Commercial Vehicle Group, Inc. (NASDAQ:CVGI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CVGI stock price is currently trading at 11.72X forward 12-month Consensus EPS estimates, and its P/E ratio is 5.67 while for the average stock in the same group, the multiple is 7.59. Commercial Vehicle Group, Inc. current P/B ratio of 1.56 means it is trading at a premium against its industry’s 1.36.
Commercial Vehicle Group, Inc. (CVGI)’s current-quarter revenues are projected to climb by nearly 0.53% to hit $226200, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 2.82% from $897740 to a noteworthy $923050. At the other end of the current quarter income statement, Commercial Vehicle Group, Inc. is expected to see its adjusted earnings surge by roughly -6.25% to hit $0.3 per share. For the fiscal year, CVGI’s earnings are projected to climb by roughly -22.6% to hit $1.13 per share.