Modine Manufacturing Company (NYSE:MOD) Given Consensus Rating of “Moderate Buy” by Brokerages

Modine Manufacturing Company (NYSE:MOD) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $320.1429.

A number of analysts recently issued reports on the company. Oppenheimer increased their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. UBS Group upped their target price on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. B. Riley Financial restated a “buy” rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Finally, Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research report on Monday, June 1st.

Modine Manufacturing Stock Down 0.1%

Shares of NYSE:MOD opened at $177.47 on Monday. The company has a 50 day moving average of $222.05 and a 200-day moving average of $235.54. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing has a one year low of $111.18 and a one year high of $323.25. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 66.72, a P/E/G ratio of 0.58 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. On average, sell-side analysts forecast that Modine Manufacturing will post 7.65 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the sale, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. Insiders own 1.92% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its holdings in shares of Modine Manufacturing by 26,352.0% in the second quarter. California State Teachers Retirement System now owns 15,536,826 shares of the auto parts company’s stock worth $4,148,643,000 after acquiring an additional 15,478,090 shares during the last quarter. BlackRock Inc. acquired a new position in Modine Manufacturing during the 2nd quarter worth approximately $765,540,000. Paradigm Capital Management Inc. NY acquired a new position in Modine Manufacturing during the 2nd quarter worth approximately $388,140,000. Invesco Ltd. lifted its stake 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 purchasing an additional 720,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Modine Manufacturing by 31.6% in the 4th 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 purchasing an additional 560,131 shares during the last quarter. Institutional investors and hedge funds 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.