Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Commercial Vehicle Group (Nasdaq: CVGI) fell 10% today after the company was downgraded by an analyst.
So what: Zacks Investment Research was the culprit today downgrading shares from outperform to neutral. This follows a downgrade from JPMorgan Chase last month.
Now what: The downgrade itself doesn't concern me as much as the seeming consensus by analysts that the company isn't a buy right now. Commercial Vehicle recently beat quarterly estimates -- in my contrarian view, this discount may be a good time to get into the stock. JP Morgan has a $19 price estimate on the stock, well higher than today's price.
Interested in more info on Commercial Vehicle Group? Add it to your watchlist.
