Modine Manufacturing Company (NYSE:MOD) Receives Consensus Rating of “Buy” from Analysts

Modine Manufacturing Company (NYSE:MOD) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $223.20.

Several research firms recently commented on MOD. Oppenheimer upped their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, DA Davidson increased their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, February 9th.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Modine Manufacturing

A number of large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors purchased a new stake in Modine Manufacturing during the 3rd quarter worth $184,610,000. Invesco Ltd. boosted its position in Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after buying an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after acquiring an additional 560,131 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Modine Manufacturing by 244.3% during the second quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock valued at $73,249,000 after acquiring an additional 527,626 shares in the last quarter. Finally, WT Asset Management Ltd purchased a new stake in shares of Modine Manufacturing during the fourth quarter worth about $69,255,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Down 8.9%

Shares of NYSE MOD opened at $186.47 on Monday. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $243.80. The firm’s 50 day moving average price is $177.47 and its 200 day moving average price is $157.77. The firm has a market cap of $9.83 billion, a P/E ratio of 103.60, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19.

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, beating 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 company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. During the same period in the previous year, the firm posted $0.92 EPS. Modine Manufacturing’s revenue was up 30.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

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.