Modine Manufacturing Company (NYSE:MOD) Given Average Rating of “Buy” by Brokerages

Modine Manufacturing Company (NYSE:MOD) has received a consensus rating of “Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $234.3333.

A number of brokerages have recently issued reports on MOD. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Glj Research started coverage on Modine Manufacturing in a research note on Monday. They set a “buy” rating and a $290.00 price objective on the stock. Roth Mkm started coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Oppenheimer increased their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $216.47 on Friday. The business has a fifty day simple moving average of $202.74 and a 200-day simple moving average of $165.97. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $243.80. The company has a market cap of $11.41 billion, a P/E ratio of 120.26, a P/E/G ratio of 1.23 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $763.54 million. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. Equities research analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors acquired a new position in Modine Manufacturing during the third quarter valued at $184,610,000. Invesco Ltd. boosted its position in Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after acquiring an additional 720,389 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Modine Manufacturing by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after acquiring an additional 560,131 shares during the period. WT Asset Management Ltd purchased a new position in Modine Manufacturing during the 4th quarter valued at about $69,255,000. Finally, Congress Asset Management Co. grew its stake in Modine Manufacturing by 954.8% during the 3rd quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock valued at $74,987,000 after acquiring an additional 477,473 shares in the last quarter. 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.