Modine Manufacturing (NYSE:MOD) Cut to Hold at Wall Street Zen

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

Several other equities analysts also recently weighed in on the company. Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. B. Riley Financial raised their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. UBS Group lifted their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Stock Down 3.3%

Shares of MOD stock opened at $241.46 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing has a 12 month low of $98.90 and a 12 month high of $323.25. The stock has a market cap of $12.82 billion, a P/E ratio of 107.80, a P/E/G ratio of 0.81 and a beta of 1.67. The company has a 50 day simple moving average of $262.07 and a two-hundred day simple moving average of $227.62.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. During the same quarter last year, the company posted $1.12 EPS. The company’s revenue was up 47.5% compared to the same quarter last year. On average, research analysts expect that Modine Manufacturing will post 7.72 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider directly owned 28,364 shares in the company, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares in the company, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their position. The SEC filing for this sale provides additional information. 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. Corporate insiders own 1.92% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Modine Manufacturing during the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in Modine Manufacturing in the 4th quarter worth approximately $25,000. Spire Wealth Management purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. purchased a new stake in shares of Modine Manufacturing during the 3rd quarter worth approximately $39,000. Finally, Danske Bank A S bought a new position in shares of Modine Manufacturing during the 3rd quarter valued at approximately $43,000. 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.