Modine Manufacturing (NYSE:MOD) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Modine Manufacturing (NYSE:MOD) from a buy rating to a hold rating in a report issued on Sunday.

A number of other equities research analysts have also weighed in on the stock. Oppenheimer lifted their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. DA Davidson increased their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. UBS Group assumed coverage on Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective on the stock. Finally, Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $223.20.

Modine Manufacturing Stock Up 3.6%

Shares of NYSE MOD opened at $226.50 on Friday. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $235.02. The firm has a 50-day simple moving average of $160.89 and a two-hundred day simple moving average of $152.33. The company has a market cap of $11.94 billion, a P/E ratio of 125.84, a PEG ratio of 1.38 and a beta of 1.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. Research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares in the company, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the sale, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,071 shares of company stock valued at $5,484,685 in the last ninety days. 2.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its holdings in shares of Modine Manufacturing by 120.4% during the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after acquiring an additional 720,389 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Modine Manufacturing by 32.3% in the fourth quarter. Corient Private Wealth LLC now owns 10,050 shares of the auto parts company’s stock worth $1,352,000 after acquiring an additional 2,453 shares during the last quarter. Delta Global Management LP purchased a new stake in shares of Modine Manufacturing during the fourth quarter worth approximately $1,239,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Modine Manufacturing by 5.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,018,021 shares of the auto parts company’s stock valued at $135,916,000 after purchasing an additional 51,058 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Modine Manufacturing by 18.3% in the 4th quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company’s stock valued at $91,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.