Modine Manufacturing Company (NYSE:MOD) Receives Average Rating of “Buy” from Analysts

Shares of Modine Manufacturing Company (NYSE:MOD) have been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $223.20.

Several research analysts recently weighed in on the stock. DA Davidson upped their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Roth Mkm began coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price for the company. Finally, Oppenheimer lifted their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th.

Modine Manufacturing Price Performance

NYSE:MOD traded down $1.45 during trading hours on Friday, hitting $214.36. 176,215 shares of the stock traded hands, compared to its average volume of 1,429,190. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $243.80. The company has a market cap of $11.30 billion, a price-to-earnings ratio of 119.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.67. The stock has a 50 day moving average price of $198.27 and a 200 day moving average price of $164.31.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. Sell-side analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.48% of the stock is currently owned by company insiders.

Institutional Trading of Modine Manufacturing

A number of institutional investors and hedge funds have recently bought and sold shares of MOD. Hsbc Holdings PLC increased its position in Modine Manufacturing by 113.6% in the fourth quarter. Hsbc Holdings PLC now owns 5,086 shares of the auto parts company’s stock worth $679,000 after purchasing an additional 2,705 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Modine Manufacturing by 135.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,972 shares of the auto parts company’s stock valued at $263,000 after purchasing an additional 1,135 shares during the last quarter. World Investment Advisors purchased a new position in shares of Modine Manufacturing in the 4th quarter worth $211,000. DUTCH ASSET Corp purchased a new position in shares of Modine Manufacturing in the 4th quarter worth $1,124,000. Finally, Aristides Capital LLC increased its holdings in shares of Modine Manufacturing by 3.0% in the 4th quarter. Aristides Capital LLC now owns 6,803 shares of the auto parts company’s stock worth $908,000 after buying an additional 201 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

About Modine Manufacturing

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.