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

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

A number of other brokerages have also recently issued reports on MOD. Oppenheimer upped their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. B. Riley Financial boosted their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. DA Davidson reaffirmed a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research report on Monday, June 22nd. Finally, Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Stock Performance

MOD opened at $230.63 on Friday. Modine Manufacturing has a 52-week low of $102.93 and a 52-week high of $323.25. The firm has a market capitalization of $12.25 billion, a PE ratio of 102.96, a PEG ratio of 0.78 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The business’s 50-day simple moving average is $261.74 and its 200 day simple moving average is $228.94.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.51 by $0.20. The firm had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The business’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 earnings per share. As a group, sell-side analysts expect that Modine Manufacturing will post 7.72 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In related news, 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 owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the sale, the director directly owned 42,350 shares of the company’s stock, valued at $12,219,669. This represents a 26.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 54,302 shares of company stock worth $15,928,759. 1.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. raised its position in shares of Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after purchasing an additional 39 shares during the period. World Investment Advisors boosted its holdings in shares of Modine Manufacturing by 4.1% during the 1st quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock worth $356,000 after buying an additional 65 shares during the period. Xponance LLC boosted its holdings in shares of Modine Manufacturing by 1.7% during the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock worth $591,000 after buying an additional 75 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Modine Manufacturing by 3.4% during the 4th 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 during the period. Finally, PNC Financial Services Group Inc. grew its stake in Modine Manufacturing by 6.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock valued at $386,000 after buying an additional 103 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

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.