Modine Manufacturing Company (MOD) Stock Rating Lowered by Zacks Investment Research
Modine Manufacturing Company (NYSE:MOD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Modine operates primarily in a single industry consisting of the manufacture and sale of heat transfer equipment. This includes heat exchangers for cooling all types of engines, transmissions, auxiliary hydraulic equipment, air conditioning components used in cars, trucks, farm and construction machinery and equipment, and heating and cooling equipment for residential and commercial building HVAC (heating, ventilating, air conditioning and refrigeration equipment). “
MOD has been the topic of several other research reports. BidaskClub downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Monday, July 24th. TheStreet raised shares of Modine Manufacturing from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Finally, ValuEngine raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Modine Manufacturing has an average rating of “Hold” and a consensus target price of $24.00.
Modine Manufacturing (MOD) traded down $0.05 during mid-day trading on Thursday, hitting $22.55. 175,100 shares of the stock traded hands, compared to its average volume of 316,524. Modine Manufacturing has a 1 year low of $10.10 and a 1 year high of $23.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.25 and a quick ratio of 0.87. The stock has a market capitalization of $1,137.73, a P/E ratio of 17.25 and a beta of 1.20.
Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, October 31st. The auto parts company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.22 by $0.14. Modine Manufacturing had a net margin of 2.29% and a return on equity of 14.94%. The firm had revenue of $508.30 million for the quarter, compared to the consensus estimate of $466.33 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The company’s quarterly revenue was up 60.0% compared to the same quarter last year. equities analysts expect that Modine Manufacturing will post 1.43 EPS for the current fiscal year.
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In other Modine Manufacturing news, insider Thomas Andrew Burke sold 84,980 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $16.19, for a total transaction of $1,375,826.20. Following the transaction, the insider now owns 454,673 shares in the company, valued at $7,361,155.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott D. Wollenberg sold 6,414 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $23.55, for a total transaction of $151,049.70. The disclosure for this sale can be found here. Insiders own 4.42% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MOD. Wedge Capital Management L L P NC bought a new position in shares of Modine Manufacturing in the second quarter worth about $16,405,000. Phocas Financial Corp. grew its holdings in shares of Modine Manufacturing by 108.3% in the second quarter. Phocas Financial Corp. now owns 776,539 shares of the auto parts company’s stock worth $12,852,000 after purchasing an additional 403,805 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Modine Manufacturing by 12.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,576,667 shares of the auto parts company’s stock worth $43,633,000 after purchasing an additional 394,754 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Modine Manufacturing by 8.3% in the first quarter. Vanguard Group Inc. now owns 3,817,668 shares of the auto parts company’s stock worth $46,576,000 after purchasing an additional 293,629 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Modine Manufacturing by 30.6% in the second quarter. Royce & Associates LP now owns 1,136,000 shares of the auto parts company’s stock worth $18,801,000 after purchasing an additional 266,200 shares during the last quarter. Institutional investors and hedge funds own 80.99% 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.
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