Modine Manufacturing Company (NYSE:MOD) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, August 1st.
Several other research firms have also weighed in on MOD. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, June 1st. BidaskClub lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Modine Manufacturing has a consensus rating of “Buy” and an average target price of $17.00.
Modine Manufacturing (NYSE:MOD) opened at 15.60 on Tuesday. Modine Manufacturing has a 1-year low of $9.25 and a 1-year high of $17.85. The stock’s 50 day moving average price is $16.54 and its 200 day moving average price is $13.66. The stock has a market capitalization of $781.90 million, a PE ratio of 33.91 and a beta of 1.20.
Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.09. The business had revenue of $515.50 million during the quarter, compared to analyst estimates of $482.70 million. Modine Manufacturing had a return on equity of 11.16% and a net margin of 1.35%. Modine Manufacturing’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Equities research analysts forecast that Modine Manufacturing will post $1.41 earnings per share for the current year.
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In other Modine Manufacturing news, VP Scott D. Wollenberg sold 5,736 shares of Modine Manufacturing stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $15.95, for a total transaction of $91,489.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.42% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in Modine Manufacturing by 0.6% in the second quarter. Aperio Group LLC now owns 13,495 shares of the auto parts company’s stock valued at $223,000 after buying an additional 78 shares in the last quarter. Legal & General Group Plc boosted its position in Modine Manufacturing by 3.2% in the second quarter. Legal & General Group Plc now owns 16,260 shares of the auto parts company’s stock valued at $269,000 after buying an additional 497 shares in the last quarter. BB&T Securities LLC boosted its position in Modine Manufacturing by 4.2% in the second quarter. BB&T Securities LLC now owns 13,600 shares of the auto parts company’s stock valued at $225,000 after buying an additional 550 shares in the last quarter. Rhumbline Advisers boosted its position in Modine Manufacturing by 1.6% in the second quarter. Rhumbline Advisers now owns 63,347 shares of the auto parts company’s stock valued at $1,048,000 after buying an additional 985 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Modine Manufacturing by 11.5% in the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after buying an additional 1,008 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.
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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