Modine Manufacturing (NYSE:MOD) Downgraded to Hold Rating by Wall Street Zen

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

A number of other brokerages have also issued reports on MOD. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Oppenheimer lifted their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. UBS Group initiated 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. Finally, Roth Mkm assumed coverage on Modine Manufacturing in a report on Wednesday. They issued a “buy” rating and a $263.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Modine Manufacturing presently has an average rating of “Buy” and a consensus price target of $223.20.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $226.50 on Friday. The business’s fifty day moving average is $160.89 and its two-hundred day moving average is $152.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The firm has a market cap of $11.94 billion, a P/E ratio of 125.84, a P/E/G ratio of 1.38 and a beta of 1.71. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $235.02.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. Equities research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at $25,000. Spire Wealth Management acquired a new position in Modine Manufacturing in the fourth quarter valued at about $27,000. First Horizon Corp acquired a new position in Modine Manufacturing in the third quarter valued at about $38,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing in the third quarter worth about $39,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 405 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

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.