Modine Manufacturing (NYSE:MOD) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Modine Manufacturing (NYSE:MOD) from a hold rating to a buy rating in a research note issued to investors on Saturday.

MOD has been the subject of several other reports. UBS Group started coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 target price for the company. DA Davidson lifted their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Finally, Oppenheimer lifted their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $213.25.

Modine Manufacturing Stock Performance

Shares of MOD opened at $216.35 on Friday. The company has a market cap of $11.41 billion, a PE ratio of 120.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.71. The firm has a 50-day moving average of $154.45 and a 200-day moving average of $149.17. Modine Manufacturing has a one year low of $64.79 and a one year high of $235.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same period in the prior year, the firm earned $0.92 EPS. Modine Manufacturing’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, equities analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

Insider Activity

In other news, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,071 shares of company stock worth $5,484,685 over the last 90 days. 2.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its position in shares of Modine Manufacturing by 17.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock valued at $71,000 after acquiring an additional 75 shares during the period. Xponance LLC lifted its position in Modine Manufacturing by 1.7% during the fourth quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock worth $591,000 after purchasing an additional 75 shares during the period. Handelsbanken Fonder AB grew its stake in Modine Manufacturing by 0.8% during the second quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock worth $1,290,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Modine Manufacturing by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after buying an additional 103 shares in the last quarter. Finally, Intrust Bank NA increased its holdings in Modine Manufacturing by 2.3% in the 3rd quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock valued at $699,000 after buying an additional 109 shares during the period. Institutional investors own 95.23% of the company’s stock.

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.