Zacks: Modine Manufacturing Co. (MOD) Receives Average Recommendation of “Strong Buy” from Brokerages
Modine Manufacturing Co. (NYSE:MOD) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price target of $24.33 for the company and are predicting that the company will post $0.29 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Modine Manufacturing an industry rank of 92 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently commented on MOD shares. ValuEngine downgraded Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a report on Monday, December 4th. Zacks Investment Research downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Thursday, November 9th.
Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, October 31st. The auto parts company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.14. The business had revenue of $508.30 million during the quarter, compared to the consensus estimate of $466.33 million. Modine Manufacturing had a return on equity of 14.94% and a net margin of 2.29%. The firm’s revenue was up 60.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) earnings per share. equities research analysts predict that Modine Manufacturing will post 1.43 EPS for the current year.
In other Modine Manufacturing news, VP Scott D. Wollenberg sold 6,414 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $23.55, for a total value of $151,049.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Holger Schwab sold 11,141 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $20.10, for a total value of $223,934.10. Following the completion of the sale, the vice president now owns 47,225 shares of the company’s stock, valued at $949,222.50. The disclosure for this sale can be found here. Insiders sold 45,241 shares of company stock valued at $982,316 in the last quarter. 4.42% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the business. Algert Global LLC bought a new stake in shares of Modine Manufacturing in the third quarter worth about $1,922,000. Keeley Teton Advisors LLC bought a new stake in shares of Modine Manufacturing in the third quarter worth about $5,164,000. Royce & Associates LP increased its holdings in shares of Modine Manufacturing by 2.5% in the third quarter. Royce & Associates LP now owns 1,164,000 shares of the auto parts company’s stock worth $22,407,000 after acquiring an additional 28,000 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Modine Manufacturing by 17.1% in the third quarter. Stifel Financial Corp now owns 844,768 shares of the auto parts company’s stock worth $16,261,000 after acquiring an additional 123,470 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Modine Manufacturing by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,997,909 shares of the auto parts company’s stock worth $76,960,000 after acquiring an additional 95,915 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.
About Modine Manufacturing
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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