Wall Street Zen Downgrades Modine Manufacturing (NYSE:MOD) to Hold

Modine Manufacturing (NYSE:MOD) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other brokerages also recently issued reports on MOD. Oppenheimer raised their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. UBS Group began coverage on Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target on the stock. DA Davidson boosted their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a report on Monday, February 9th. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Finally, Roth Mkm initiated coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $223.20.

Modine Manufacturing Stock Down 1.8%

Shares of MOD opened at $222.36 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $162.49 and a 200 day moving average of $152.95. The company has a market cap of $11.72 billion, a PE ratio of 123.53, a P/E/G ratio of 1.38 and a beta of 1.70. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $235.02.

Modine Manufacturing (NYSE:MOD) last announced its 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. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. On average, sell-side analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Insiders Place Their Bets

In related news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction dated 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 directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated 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. The trade was a 11.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,071 shares of company stock worth $5,484,685 in the last three months. Corporate insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds have recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new position in Modine Manufacturing during the fourth quarter valued at approximately $25,000. Spire Wealth Management bought a new stake in Modine Manufacturing during the 4th quarter valued at $27,000. First Horizon Corp purchased a new position in shares of Modine Manufacturing in the 3rd quarter valued at $38,000. Sunbelt Securities Inc. bought a new position in shares of Modine Manufacturing in the 3rd quarter worth $39,000. Finally, Danske Bank A S purchased a new stake in shares of Modine Manufacturing during the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

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.