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Commercial Vehicle Group Shares Plunged: What You Need to Know

By Travis Hoium – Updated Apr 6, 2017 at 11:17PM

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NASDAQ: CVGI

Commercial Vehicle Group, Inc.

Market Cap

$163M

Today's Change

(-3.68%) -$0.18

Current Price

$4.71

Price as of September 26, 2022, 4:00 p.m. ET

Is this meaningful? Or just another movement?

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.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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Stocks Mentioned

Commercial Vehicle Group, Inc.

CVGI

$4.71 (-3.68%) $0.18

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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