Modine Manufacturing (MOD) Downgraded to Sell at Zacks Investment Research

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Modine Manufacturing (NYSE:MOD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Modine operates primarily in a single industry consisting of the manufacture and sale of heat transfer equipment. This includes heat exchangers for cooling all types of engines, transmissions, auxiliary hydraulic equipment, air conditioning components used in cars, trucks, farm and construction machinery and equipment, and heating and cooling equipment for residential and commercial building HVAC (heating, ventilating, air conditioning and refrigeration equipment). “

Separately, ValuEngine downgraded Modine Manufacturing from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th.

NYSE MOD opened at $12.44 on Thursday. The company has a market cap of $651.89 million, a PE ratio of 8.22 and a beta of 1.52. Modine Manufacturing has a 52 week low of $12.40 and a 52 week high of $25.75. The company has a quick ratio of 0.85, a current ratio of 1.23 and a debt-to-equity ratio of 0.76.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, August 1st. The auto parts company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The firm had revenue of $566.10 million during the quarter, compared to the consensus estimate of $552.12 million. Modine Manufacturing had a return on equity of 17.01% and a net margin of 1.26%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, equities analysts anticipate that Modine Manufacturing will post 1.52 earnings per share for the current fiscal year.

In related news, Director Suresh V. Garimella sold 14,181 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $17.65, for a total transaction of $250,294.65. Following the transaction, the director now owns 40,135 shares of the company’s stock, valued at $708,382.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.48% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Globeflex Capital L P boosted its position in shares of Modine Manufacturing by 13.4% during the second quarter. Globeflex Capital L P now owns 26,986 shares of the auto parts company’s stock valued at $492,000 after buying an additional 3,191 shares during the last quarter. Financial Consulate Inc. boosted its position in shares of Modine Manufacturing by 4.0% during the second quarter. Financial Consulate Inc. now owns 129,246 shares of the auto parts company’s stock valued at $2,359,000 after buying an additional 4,935 shares during the last quarter. Northern Trust Corp boosted its position in shares of Modine Manufacturing by 0.5% during the first quarter. Northern Trust Corp now owns 967,982 shares of the auto parts company’s stock valued at $20,472,000 after buying an additional 4,936 shares during the last quarter. Monarch Partners Asset Management LLC boosted its position in shares of Modine Manufacturing by 21.2% during the second quarter. Monarch Partners Asset Management LLC now owns 30,580 shares of the auto parts company’s stock valued at $558,000 after buying an additional 5,340 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Modine Manufacturing by 10.6% during the second quarter. Alps Advisors Inc. now owns 67,778 shares of the auto parts company’s stock valued at $1,237,000 after buying an additional 6,470 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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