Modine Manufacturing Company (NYSE:MOD) Receives Average Rating of “Moderate Buy” from Analysts

Modine Manufacturing Company (NYSE:MOD) has earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $327.1429.

MOD has been the topic of a number of analyst reports. Wall Street Zen raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Oppenheimer upped their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. B. Riley Financial lifted their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Glj Research restated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st.

Modine Manufacturing Price Performance

Shares of NYSE:MOD traded up $0.30 during midday trading on Friday, hitting $231.27. The company had a trading volume of 1,787,603 shares, compared to its average volume of 1,693,626. Modine Manufacturing has a twelve month low of $86.48 and a twelve month high of $323.25. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 103.24, a price-to-earnings-growth ratio of 0.75 and a beta of 1.67. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The business’s 50-day simple moving average is $270.29 and its 200-day simple moving average is $217.05.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. On average, research analysts predict that Modine Manufacturing will post 7.73 earnings per share for the current year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian Jon Agen sold 38,282 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the transaction, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 54,302 shares of company stock valued at $15,928,759 in the last 90 days. 2.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Modine Manufacturing in the first quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $25,000. Spire Wealth Management acquired a new position in shares of Modine Manufacturing during the 4th quarter worth $27,000. Sunbelt Securities Inc. acquired a new stake in shares of Modine Manufacturing in the third quarter worth about $39,000. Finally, Danske Bank A S acquired a new position in Modine Manufacturing during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

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.