Modine Manufacturing (NYSE:MOD) Upgraded by Wall Street Zen to Buy Rating

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

MOD has been the topic of a number of other research reports. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Oppenheimer upped their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. UBS Group began coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Finally, 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 research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $213.25.

Modine Manufacturing Stock Up 0.4%

Shares of NYSE MOD opened at $216.35 on Friday. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $235.02. The firm has a 50-day simple moving average of $154.45 and a two-hundred day simple moving average of $148.91. The company has a market cap of $11.41 billion, a P/E ratio of 120.19, a PEG ratio of 1.32 and a beta of 1.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

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

Insider Activity

In other news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares in the company, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 34,071 shares of company stock worth $5,484,685. 2.48% of the stock is owned by company insiders.

Institutional Trading of Modine Manufacturing

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spire Wealth Management purchased a new position in Modine Manufacturing in the fourth quarter valued at about $27,000. First Horizon Corp bought a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $38,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing in the 3rd quarter worth approximately $39,000. Danske Bank A S bought a new position in shares of Modine Manufacturing during the 3rd quarter worth approximately $43,000. Finally, Root Financial Partners LLC raised its stake in shares of Modine Manufacturing by 140.5% during the 4th quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.