Modine Manufacturing (NYSE:MOD) Rating Lowered to Hold at Zacks Research

Modine Manufacturing (NYSE:MOD) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Oppenheimer lifted their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Roth Mkm assumed coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target on the stock. Finally, DA Davidson reiterated a “buy” rating and set a $265.00 price target on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.33.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $253.91 on Monday. The company’s fifty day moving average price is $216.36 and its 200 day moving average price is $171.83. Modine Manufacturing has a 12 month low of $67.80 and a 12 month high of $260.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. The firm has a market capitalization of $13.39 billion, a P/E ratio of 141.06, a P/E/G ratio of 1.05 and a beta of 1.68.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same period last year, the business earned $0.92 EPS. Modine Manufacturing’s revenue for the quarter was up 30.5% compared to the same quarter last year. As a group, 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 related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction dated 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 transaction, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.48% of the stock is owned by corporate insiders.

Institutional Trading of Modine Manufacturing

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Modine Manufacturing by 13.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock valued at $12,512,000 after purchasing an additional 9,989 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Modine Manufacturing by 583.1% in the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after purchasing an additional 12,950 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Modine Manufacturing by 0.9% in the 3rd quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock valued at $106,598,000 after purchasing an additional 6,847 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Modine Manufacturing by 390.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock valued at $2,397,000 after purchasing an additional 13,424 shares during the last quarter. Finally, Wisconsin Capital Management LLC boosted its holdings in shares of Modine Manufacturing by 227.9% in the 3rd quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock valued at $3,280,000 after purchasing an additional 16,034 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.