Shares of Modine Manufacturing Co. (NYSE:MOD) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1-year consensus price target of $25.00 for the company and are predicting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also given Modine Manufacturing an industry rank of 148 out of 255 based on the ratings given to its competitors.
A number of equities research analysts have commented on the company. Zacks Investment Research raised Modine Manufacturing from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. ValuEngine upgraded Modine Manufacturing from a “strong sell” rating to a “sell” rating in a report on Saturday, February 2nd.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Modine Manufacturing by 2.4% in the third quarter. Vanguard Group Inc. now owns 4,328,334 shares of the auto parts company’s stock worth $64,492,000 after purchasing an additional 103,083 shares in the last quarter. Vanguard Group Inc grew its position in Modine Manufacturing by 2.4% during the third quarter. Vanguard Group Inc now owns 4,328,334 shares of the auto parts company’s stock worth $64,492,000 after buying an additional 103,083 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Modine Manufacturing by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,264,982 shares of the auto parts company’s stock worth $46,105,000 after buying an additional 39,017 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Modine Manufacturing by 6.0% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 4,200,197 shares of the auto parts company’s stock worth $62,583,000 after purchasing an additional 237,090 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Modine Manufacturing by 0.5% in the 4th quarter. LSV Asset Management now owns 1,629,839 shares of the auto parts company’s stock worth $17,618,000 after purchasing an additional 8,000 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Modine Manufacturing stock traded up $0.37 on Friday, hitting $15.99. 5,811 shares of the company traded hands, compared to its average volume of 263,359. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.85 and a current ratio of 1.30. Modine Manufacturing has a 52 week low of $9.75 and a 52 week high of $25.75. The company has a market capitalization of $790.81 million, a PE ratio of 10.32 and a beta of 2.03.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Thursday, January 31st. The auto parts company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.08. Modine Manufacturing had a net margin of 4.32% and a return on equity of 16.34%. The company had revenue of $541.00 million during the quarter, compared to the consensus estimate of $532.74 million. On average, analysts forecast that Modine Manufacturing will post 1.56 earnings per share for the current year.
Modine Manufacturing declared that its board has approved a stock buyback program on Tuesday, October 30th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the auto parts company to purchase up to 8.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
About Modine Manufacturing
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.
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