Modine Manufacturing (NYSE:MOD) Stock Rating Lowered by Wall Street Zen

by · The Markets Daily

Modine Manufacturing (NYSE:MOD – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms have also recently weighed in on MOD. UBS Group boosted their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. B. Riley Financial boosted their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. KeyCorp increased their target price on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. DA Davidson reissued a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research note on Monday, June 22nd. Finally, Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $327.14.

Get Our Latest Analysis on Modine Manufacturing

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $241.46 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. Modine Manufacturing has a 52 week low of $98.90 and a 52 week high of $323.25. The stock has a market capitalization of $12.82 billion, a P/E ratio of 107.80, a price-to-earnings-growth ratio of 0.78 and a beta of 1.67. The stock has a fifty day moving average of $262.07 and a 200-day moving average of $228.23.

Modine Manufacturing (NYSE:MOD – Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same period last year, the firm posted $1.12 earnings per share. Modine Manufacturing’s revenue was up 47.5% compared to the same quarter last year. On average, sell-side analysts expect that Modine Manufacturing will post 7.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the transaction, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is currently owned by company insiders.

Institutional Trading of Modine Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Modine Manufacturing by 26.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares during the period. California Public Employees Retirement System increased its position in shares of Modine Manufacturing by 8.3% during the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after buying an additional 5,244 shares during the period. State Street Corp increased its position in shares of Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after buying an additional 53,351 shares during the period. Qube Research & Technologies Ltd raised its stake in Modine Manufacturing by 106.3% during the second quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after buying an additional 83,105 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Modine Manufacturing by 70.8% during the second quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after buying an additional 128,348 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

(Get Free Report)

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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