Modine Manufacturing (MOD) Rating Lowered to Buy at ValuEngine
Modine Manufacturing (NYSE:MOD) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Monday.
MOD has been the topic of several other reports. Zacks Investment Research cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub cut shares of Modine Manufacturing from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Modine Manufacturing currently has an average rating of “Hold” and an average price target of $24.00.
Shares of Modine Manufacturing (NYSE:MOD) opened at $21.55 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1,097.46, a PE ratio of 16.64 and a beta of 1.22. Modine Manufacturing has a 1 year low of $10.10 and a 1 year high of $23.95.
Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.14. The firm had revenue of $508.30 million for the quarter, compared to analysts’ expectations of $466.33 million. Modine Manufacturing had a net margin of 2.29% and a return on equity of 14.94%. The business’s revenue was up 60.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) EPS. sell-side analysts anticipate that Modine Manufacturing will post 1.43 earnings per share for the current fiscal year.
In related news, VP Matthew J. Mcburney sold 3,522 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $22.97, for a total transaction of $80,900.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Wollenberg sold 6,414 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $23.55, for a total transaction of $151,049.70. The disclosure for this sale can be found here. Insiders have sold a total of 16,936 shares of company stock worth $385,740 over the last 90 days. Corporate insiders own 4.42% of the company’s stock.
Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in Modine Manufacturing during the 2nd quarter valued at about $518,000. Comerica Bank bought a new position in Modine Manufacturing during the 2nd quarter valued at about $1,619,000. Schwab Charles Investment Management Inc. grew its holdings in Modine Manufacturing by 15.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 254,612 shares of the auto parts company’s stock valued at $4,214,000 after purchasing an additional 33,237 shares during the last quarter. Swiss National Bank grew its holdings in Modine Manufacturing by 6.9% during the 2nd quarter. Swiss National Bank now owns 84,000 shares of the auto parts company’s stock valued at $1,390,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Modine Manufacturing by 15.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,662,194 shares of the auto parts company’s stock valued at $27,509,000 after purchasing an additional 217,843 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.
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Modine Manufacturing Company Profile
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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