Modine Manufacturing Company (MOD) Raised to Buy at ValuEngine

Modine Manufacturing Company (NYSE:MOD) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, August 1st.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. BidaskClub cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $17.00.

Shares of Modine Manufacturing (NYSE:MOD) traded down 0.32% during mid-day trading on Tuesday, reaching $15.55. 226,367 shares of the company’s stock traded hands. The company’s 50-day moving average price is $16.46 and its 200-day moving average price is $13.74. The stock has a market capitalization of $779.40 million, a PE ratio of 33.80 and a beta of 1.20. Modine Manufacturing has a 12-month low of $9.25 and a 12-month high of $17.85.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, August 1st. The auto parts company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.09. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.16%. The business had revenue of $515.50 million for the quarter, compared to analysts’ expectations of $482.70 million. During the same period in the previous year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. Analysts anticipate that Modine Manufacturing will post $1.41 earnings per share for the current year.

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In other news, VP Scott D. Wollenberg sold 5,736 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $15.95, for a total transaction of $91,489.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.42% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Bank of America Corp DE increased its stake 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 during the last quarter. BNP Paribas Arbitrage SA increased its stake in Modine Manufacturing by 118.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock valued at $155,000 after buying an additional 5,067 shares during the last quarter. BB&T Securities LLC bought a new stake in Modine Manufacturing during the first quarter valued at $159,000. Karp Capital Management Corp acquired a new stake in shares of Modine Manufacturing during the first quarter worth $164,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Modine Manufacturing during the first quarter worth $176,000. 84.76% of the stock is owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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