Modine Manufacturing Co. (MOD) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Modine Manufacturing Co. (NYSE:MOD) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $13.00 target price on the stock.
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). “
Modine Manufacturing (NYSE:MOD) opened at 11.37 on Thursday. The company has a market cap of $543.27 million, a PE ratio of 291.54 and a beta of 1.57. The firm’s 50 day moving average is $10.73 and its 200 day moving average is $10.25. Modine Manufacturing has a 52-week low of $5.39 and a 52-week high of $12.00.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. Modine Manufacturing had a net margin of 0.14% and a return on equity of 10.46%. The company earned $347.20 million during the quarter, compared to the consensus estimate of $337.10 million. During the same period in the prior year, the firm earned $0.14 earnings per share. Modine Manufacturing’s revenue was up .3% on a year-over-year basis. Analysts forecast that Modine Manufacturing will post $0.84 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. increased its position in Modine Manufacturing by 1.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,490 shares of the company’s stock worth $281,000 after buying an additional 450 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Modine Manufacturing by 4.2% in the second quarter. Hsbc Holdings PLC now owns 19,582 shares of the company’s stock worth $173,000 after buying an additional 797 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Modine Manufacturing by 2.5% in the second quarter. Teachers Advisors Inc. now owns 99,389 shares of the company’s stock worth $875,000 after buying an additional 2,434 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Modine Manufacturing by 1.9% in the second quarter. Parametric Portfolio Associates LLC now owns 137,300 shares of the company’s stock worth $1,208,000 after buying an additional 2,552 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Modine Manufacturing by 34.7% in the second quarter. Legal & General Group Plc now owns 11,650 shares of the company’s stock worth $102,000 after buying an additional 3,000 shares during the period. 84.31% of the stock is owned by institutional investors.
Modine Manufacturing Company Profile
Modine Manufacturing Company is a developer, manufacturer and marketer of heat exchangers and systems for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications and to a range of building, industrial and refrigeration markets. The Company specializes in thermal management systems and components.
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