Modine Manufacturing Company (NYSE:MOD) – Analysts at Gabelli lifted their FY2018 earnings per share (EPS) estimates for shares of Modine Manufacturing in a research report issued to clients and investors on Thursday. Gabelli analyst M. Paige now anticipates that the auto parts company will post earnings of $1.35 per share for the year, up from their prior forecast of $1.25.

Other research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Modine Manufacturing from a “c” rating to a “b-” rating in a research report on Tuesday. ValuEngine upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, June 1st. Finally, BidaskClub downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $17.00.

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Shares of Modine Manufacturing (NYSE:MOD) traded up 2.69% during midday trading on Friday, reaching $17.20. The company’s stock had a trading volume of 361,850 shares. Modine Manufacturing has a 12-month low of $9.25 and a 12-month high of $17.38. The stock has a 50-day moving average of $16.55 and a 200 day moving average of $13.49. The firm has a market capitalization of $861.70 million, a P/E ratio of 37.23 and a beta of 1.20.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.09. Modine Manufacturing had a return on equity of 11.52% and a net margin of 1.35%. The business had revenue of $515.50 million during the quarter, compared to analyst estimates of $482.70 million. During the same quarter in the prior year, the business posted $0.23 EPS. Modine Manufacturing’s revenue for the quarter was up 48.5% compared to the same quarter last year.

In other Modine Manufacturing news, VP Scott D. Wollenberg sold 5,736 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $15.95, for a total value of $91,489.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.42% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Modine Manufacturing by 11.5% in the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock worth $120,000 after buying an additional 1,008 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Modine Manufacturing by 118.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock worth $155,000 after buying an additional 5,067 shares in the last quarter. BB&T Securities LLC bought a new stake in Modine Manufacturing during the first quarter worth approximately $159,000. Karp Capital Management Corp bought a new stake in Modine Manufacturing during the first quarter worth approximately $164,000. Finally, Citadel Advisors LLC bought a new stake in Modine Manufacturing during the first quarter worth approximately $176,000. Institutional investors and hedge funds own 82.87% of the company’s stock.

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.

Earnings History and Estimates for Modine Manufacturing (NYSE:MOD)

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