Modine Manufacturing Company (NYSE:MOD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Modine Manufacturing Company (NYSE:MOD) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $327.1429.

Several research analysts recently issued reports on MOD shares. DA Davidson reissued a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Glj Research reiterated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Finally, UBS Group boosted their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th.

Modine Manufacturing Price Performance

Shares of MOD opened at $243.20 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The company’s fifty day moving average price is $269.48 and its 200-day moving average price is $220.44. Modine Manufacturing has a 1-year low of $86.48 and a 1-year high of $323.25. The firm has a market capitalization of $12.85 billion, a PE ratio of 108.57, a price-to-earnings-growth ratio of 0.76 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The company had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm’s revenue was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 EPS. On average, equities research analysts predict that Modine Manufacturing will post 7.73 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the transaction, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 54,302 shares of company stock valued at $15,928,759. 2.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOD. Revolve Wealth Partners LLC purchased a new stake in shares of Modine Manufacturing during the second quarter worth about $202,000. Arista Wealth Management LLC acquired a new stake in Modine Manufacturing in the 2nd quarter worth about $267,000. Tactive Advisors LLC purchased a new stake in Modine Manufacturing during the 2nd quarter worth approximately $401,000. Hennion & Walsh Asset Management Inc. increased its stake in Modine Manufacturing by 12.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,545 shares of the auto parts company’s stock worth $7,889,000 after buying an additional 3,289 shares in the last quarter. Finally, Gradient Investments LLC acquired a new position in shares of Modine Manufacturing during the second quarter valued at approximately $203,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

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.