Modine Manufacturing (NYSE:MOD) Rating Increased to Buy at Wall Street Zen

Modine Manufacturing (NYSE:MOD) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

MOD has been the topic of several other research reports. DA Davidson boosted their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Oppenheimer upped their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, UBS Group started coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $213.25.

Modine Manufacturing Stock Up 0.4%

Shares of MOD stock opened at $216.35 on Friday. The stock’s fifty day moving average price is $154.45 and its 200 day moving average price is $148.91. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $235.02. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 120.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. During the same quarter last year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 30.5% on a year-over-year basis. On average, research analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 34,071 shares of company stock valued at $5,484,685 over the last 90 days. 2.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors acquired a new position in Modine Manufacturing in the third quarter valued at approximately $184,610,000. Champlain Investment Partners LLC lifted its stake in shares of Modine Manufacturing by 244.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock valued at $73,249,000 after purchasing an additional 527,626 shares during the period. WT Asset Management Ltd acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at $69,255,000. Congress Asset Management Co. boosted its holdings in Modine Manufacturing by 954.8% during the third quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock worth $74,987,000 after buying an additional 477,473 shares in the last quarter. Finally, Norges Bank acquired a new stake in Modine Manufacturing during the fourth quarter valued at $58,309,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

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.