Modine Manufacturing Company (NYSE:MOD) Receives Average Recommendation of “Moderate Buy” from Analysts

Modine Manufacturing Company (NYSE:MOD) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $182.00.

A number of equities analysts have commented on the stock. DA Davidson reiterated a “buy” rating and issued a $200.00 target price on shares of Modine Manufacturing in a report on Wednesday, November 19th. UBS Group assumed coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective for the company. Oppenheimer increased their target price on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. KeyCorp lifted their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated 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 completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. 2.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Modine Manufacturing by 293.7% during the first quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company’s stock valued at $189,479,000 after buying an additional 1,841,640 shares during the last quarter. Capital Research Global Investors purchased a new stake in Modine Manufacturing during the 3rd quarter valued at about $184,610,000. Situational Awareness LP increased its holdings in shares of Modine Manufacturing by 980.1% in the first quarter. Situational Awareness LP now owns 716,824 shares of the auto parts company’s stock valued at $55,016,000 after purchasing an additional 650,457 shares during the period. Champlain Investment Partners LLC raised its stake in shares of Modine Manufacturing by 244.3% in the second quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock worth $73,249,000 after purchasing an additional 527,626 shares during the last quarter. Finally, Congress Asset Management Co. lifted its holdings in shares of Modine Manufacturing by 954.8% during the third quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock worth $74,987,000 after purchasing an additional 477,473 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Down 2.5%

Modine Manufacturing stock opened at $138.76 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 2.00 and a debt-to-equity ratio of 0.50. The firm has a market cap of $7.31 billion, a P/E ratio of 40.10, a P/E/G ratio of 0.91 and a beta of 1.69. The business has a fifty day moving average of $151.90 and a two-hundred day moving average of $131.96. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $166.94.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. The business had revenue of $738.90 million for the quarter, compared to the consensus estimate of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The business’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $0.97 EPS. On average, analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.