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

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

A number of other research analysts have also issued reports on the company. Oppenheimer boosted their price target on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. DA Davidson lifted their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. UBS Group began coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price for the company. Finally, Roth Mkm initiated coverage on shares of Modine Manufacturing in a research report on Wednesday. They set a “buy” rating and a $263.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing presently has an average rating of “Buy” and an average target price of $223.20.

Modine Manufacturing Stock Up 3.6%

Shares of Modine Manufacturing stock opened at $226.50 on Friday. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $235.02. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $160.89 and its 200-day simple moving average is $152.22. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 125.84, a PEG ratio of 1.38 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $805.00 million for 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 quarter last year, the company earned $0.92 EPS. Equities research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the sale, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the sale, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,071 shares of company stock valued at $5,484,685 in the last quarter. Insiders own 2.48% of the company’s stock.

Institutional Trading of Modine Manufacturing

A number of hedge funds have recently bought and sold shares of MOD. Allspring Global Investments Holdings LLC raised its holdings in shares of Modine Manufacturing by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock worth $12,512,000 after buying an additional 9,989 shares in the last quarter. Schear Investment Advisers LLC bought a new position in shares of Modine Manufacturing during the second quarter valued at $1,547,000. Principal Financial Group Inc. boosted its stake in shares of Modine Manufacturing by 0.9% in the 3rd quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock valued at $106,598,000 after purchasing an additional 6,847 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Modine Manufacturing by 390.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock worth $2,397,000 after purchasing an additional 13,424 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Modine Manufacturing by 12.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock valued at $6,851,000 after purchasing an additional 5,319 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

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.