Modine Manufacturing (NYSE:MOD) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Modine Manufacturing (NYSE:MOD) from a buy rating to a hold rating in a report released on Saturday morning.

MOD has been the subject of several other research reports. DA Davidson reissued a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. KeyCorp boosted their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. B. Riley Financial upped their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Oppenheimer increased their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, Glj Research reiterated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $241.46 on Friday. The business’s 50 day moving average price is $262.07 and its 200 day moving average price is $227.62. The firm has a market cap of $12.82 billion, a P/E ratio of 107.80, a P/E/G ratio of 0.78 and a beta of 1.67. Modine Manufacturing has a 52 week low of $98.90 and a 52 week 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 issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. During the same quarter in the prior year, the company earned $1.12 EPS. Modine Manufacturing’s quarterly revenue was up 47.5% on a year-over-year basis. On average, sell-side analysts expect that Modine Manufacturing will post 7.72 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president directly owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This trade represents a 26.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 54,302 shares of company stock worth $15,928,759 in the last 90 days. Corporate insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MOD. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing in the 1st quarter worth $25,000. Kemnay Advisory Services Inc. purchased a new position in Modine Manufacturing during the fourth quarter valued at $25,000. Spire Wealth Management acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at about $27,000. Optiver Holding B.V. grew its position in shares of Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after purchasing an additional 39 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Modine Manufacturing in the third quarter valued at about $39,000. Hedge funds and other 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.