Zacks: Modine Manufacturing Co. (MOD) Given Consensus Rating of “Strong Buy” by Brokerages

Shares of Modine Manufacturing Co. (NYSE:MOD) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1-year consensus price target of $25.50 for the company and are predicting that the company will post $0.29 EPS 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 related companies.

Several brokerages recently weighed in on MOD. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, January 10th. ValuEngine downgraded Modine Manufacturing from a “strong-buy” rating to a “buy” rating in a report on Monday, December 4th.

Shares of Modine Manufacturing (NYSE:MOD) traded up $0.35 during mid-day trading on Friday, reaching $22.75. The company had a trading volume of 534,318 shares, compared to its average volume of 284,775. The stock has a market capitalization of $1,127.67, a PE ratio of 26.77 and a beta of 1.23. Modine Manufacturing has a 12 month low of $10.10 and a 12 month high of $23.95. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.14. The company had revenue of $508.30 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 60.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share. equities research analysts predict that Modine Manufacturing will post 1.43 earnings per share for the current year.

In other Modine Manufacturing news, COO Thomas F. Marry sold 5,492 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $20.98, for a total value of $115,222.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Holger Schwab sold 11,141 shares of the business’s stock in a transaction on 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 directly owns 47,225 shares in the company, valued at $949,222.50. The disclosure for this sale can be found here. Insiders sold 45,241 shares of company stock worth $982,316 over the last three months. Corporate insiders own 4.42% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MOD. Phocas Financial Corp. boosted its holdings in Modine Manufacturing by 108.3% in the second quarter. Phocas Financial Corp. now owns 776,539 shares of the auto parts company’s stock worth $12,852,000 after acquiring an additional 403,805 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Modine Manufacturing by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,901,994 shares of the auto parts company’s stock worth $64,578,000 after acquiring an additional 325,327 shares in the last quarter. Keeley Teton Advisors LLC bought a new stake in Modine Manufacturing in the third quarter worth $5,164,000. Vanguard Group Inc. boosted its holdings in Modine Manufacturing by 5.2% in the second quarter. Vanguard Group Inc. now owns 4,016,073 shares of the auto parts company’s stock worth $66,466,000 after acquiring an additional 198,405 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in Modine Manufacturing by 1,385.6% in the second quarter. Susquehanna International Group LLP now owns 159,419 shares of the auto parts company’s stock worth $2,638,000 after acquiring an additional 171,819 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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Modine Manufacturing Company Profile

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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