Modine Manufacturing (NYSE:MOD) Cut to “Hold” at Wall Street Zen

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

Several other equities research analysts have also commented on the stock. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Glj Research reaffirmed a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. UBS Group lifted their target price on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. KeyCorp boosted their price target on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Finally, Oppenheimer upped their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $241.46 on Friday. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 107.80, a PEG ratio of 0.81 and a beta of 1.67. The business’s fifty day moving average is $262.07 and its 200 day moving average is $227.62. Modine Manufacturing has a twelve month low of $98.90 and a twelve month high of $323.25. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS 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 during the quarter, compared to analyst estimates of $920.67 million. During the same quarter last year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was up 47.5% on a year-over-year basis. Research analysts expect that Modine Manufacturing will post 7.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction dated 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 sale, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Modine Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after buying an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after buying an additional 560,131 shares during the last quarter. WT Asset Management Ltd bought a new stake in shares of Modine Manufacturing in the fourth quarter worth $69,255,000. Janus Henderson Group PLC grew its holdings in shares of Modine Manufacturing by 2,249.9% in the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after acquiring an additional 501,229 shares during the period. Finally, Norges Bank purchased a new stake in Modine Manufacturing during the fourth quarter valued at $58,309,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

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.