Modine Manufacturing (NYSE:MOD) was downgraded by equities research analysts at Dougherty & Co from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat Ratings reports.
A number of other research firms have also commented on MOD. TheStreet lowered Modine Manufacturing from a “b-” rating to a “c” rating in a research note on Friday, September 20th. DA Davidson reissued a “neutral” rating on shares of Modine Manufacturing in a research note on Wednesday, September 11th. ValuEngine raised Modine Manufacturing from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research lowered Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Modine Manufacturing has an average rating of “Hold” and an average target price of $13.83.
Shares of Modine Manufacturing stock traded down $4.83 during midday trading on Friday, reaching $7.02. The company had a trading volume of 2,414,861 shares, compared to its average volume of 239,574. The stock has a fifty day moving average price of $10.89 and a 200 day moving average price of $12.41. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 0.78. The firm has a market cap of $599.32 million, a PE ratio of 4.47, a P/E/G ratio of 0.87 and a beta of 1.99. Modine Manufacturing has a fifty-two week low of $6.82 and a fifty-two week high of $16.67.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Thursday, November 7th. The auto parts company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.12). The company had revenue of $500.20 million during the quarter, compared to analyst estimates of $514.27 million. Modine Manufacturing had a return on equity of 14.19% and a net margin of 3.25%. Modine Manufacturing’s revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, sell-side analysts forecast that Modine Manufacturing will post 1.36 EPS for the current year.
In other news, insider Hanna Julian 500,000 shares of Modine Manufacturing stock in a transaction that occurred on Friday, October 11th. 5.01% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MOD. James Investment Research Inc. lifted its stake in Modine Manufacturing by 6.2% in the second quarter. James Investment Research Inc. now owns 36,910 shares of the auto parts company’s stock valued at $528,000 after buying an additional 2,160 shares during the period. Financial Consulate Inc. increased its holdings in shares of Modine Manufacturing by 0.4% during the second quarter. Financial Consulate Inc. now owns 243,061 shares of the auto parts company’s stock valued at $3,478,000 after acquiring an additional 986 shares in the last quarter. Strs Ohio increased its holdings in shares of Modine Manufacturing by 5.3% during the second quarter. Strs Ohio now owns 51,800 shares of the auto parts company’s stock valued at $741,000 after acquiring an additional 2,600 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $31,000. Finally, Virginia Retirement Systems ET AL increased its holdings in shares of Modine Manufacturing by 4.5% during the second quarter. Virginia Retirement Systems ET AL now owns 32,700 shares of the auto parts company’s stock valued at $468,000 after acquiring an additional 1,400 shares in the last quarter. 87.14% of the stock is currently owned by hedge funds and other institutional investors.
Modine Manufacturing Company Profile
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.
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