Modine Manufacturing Co. (NYSE:MOD) has received an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus price objective of $29.50 for the company and are predicting that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also given Modine Manufacturing an industry rank of 86 out of 265 based on the ratings given to its competitors.
MOD has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Saturday, February 3rd. ValuEngine lowered shares of Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 4th.
Modine Manufacturing (NYSE MOD) traded down $1.00 during trading on Friday, reaching $22.60. 259,893 shares of the company’s stock traded hands, compared to its average volume of 376,100. The stock has a market cap of $1,168.18, a PE ratio of 94.17 and a beta of 1.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.85 and a current ratio of 1.24. Modine Manufacturing has a 12 month low of $10.10 and a 12 month high of $25.75.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $512.70 million during the quarter, compared to analyst estimates of $456.30 million. Modine Manufacturing had a net margin of 0.62% and a return on equity of 16.54%. The company’s quarterly revenue was up 46.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. research analysts predict that Modine Manufacturing will post 1.5 earnings per share for the current year.
In other Modine Manufacturing news, VP Scott D. Wollenberg sold 10,035 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $22.76, for a total transaction of $228,396.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Scott L. Bowser sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $24.36, for a total transaction of $85,260.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,914 shares of company stock valued at $373,251. 4.42% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Modine Manufacturing by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,997,909 shares of the auto parts company’s stock worth $76,960,000 after purchasing an additional 95,915 shares during the last quarter. BlackRock Inc. grew its position in Modine Manufacturing by 14.6% during the 4th quarter. BlackRock Inc. now owns 3,764,008 shares of the auto parts company’s stock worth $76,032,000 after purchasing an additional 479,011 shares during the last quarter. Royce & Associates LP grew its position in Modine Manufacturing by 2.5% during the 3rd quarter. Royce & Associates LP now owns 1,164,000 shares of the auto parts company’s stock worth $22,407,000 after purchasing an additional 28,000 shares during the last quarter. Millennium Management LLC grew its position in Modine Manufacturing by 81.4% during the 4th quarter. Millennium Management LLC now owns 1,067,335 shares of the auto parts company’s stock worth $21,560,000 after purchasing an additional 478,987 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in Modine Manufacturing by 1.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 947,389 shares of the auto parts company’s stock worth $19,137,000 after purchasing an additional 17,249 shares during the last quarter. 84.66% of the stock is currently owned by institutional investors.
About Modine Manufacturing
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Modine Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Modine Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.