Modine Manufacturing Company (NYSE:MOD) Receives Consensus Recommendation of “Buy” from Brokerages

Modine Manufacturing Company (NYSE:MOD) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $223.20.

Several research firms have recently weighed in on MOD. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Roth Mkm began coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Oppenheimer boosted their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, DA Davidson upped their price target on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, February 9th.

Modine Manufacturing Stock Performance

Shares of MOD stock traded down $1.45 during trading hours on Friday, reaching $214.36. The company had a trading volume of 176,215 shares, compared to its average volume of 1,429,190. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The business has a fifty day moving average price of $198.27 and a 200-day moving average price of $164.31. Modine Manufacturing has a one year low of $64.79 and a one year high of $243.80. The firm has a market cap of $11.30 billion, a PE ratio of 119.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share 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 the consensus estimate of $763.54 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. Sell-side analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds have recently modified their holdings of the business. Kemnay Advisory Services Inc. bought a new position in Modine Manufacturing in the 4th quarter worth $25,000. Spire Wealth Management bought a new stake in Modine Manufacturing during the fourth quarter valued at about $27,000. First Horizon Corp purchased a new stake in Modine Manufacturing in the third quarter worth about $38,000. Sunbelt Securities Inc. bought a new position in shares of Modine Manufacturing in the third quarter worth about $39,000. Finally, Danske Bank A S bought a new position in shares of Modine Manufacturing in the third quarter worth about $43,000. 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.