Zacks Investment Research lowered shares of Modine Manufacturing Company (NYSE:MOD) from a buy rating to a hold rating in a research note released on Thursday morning.
According to Zacks, “Modine operates primarily in a single industry consisting of the manufacture and sale of heat transfer equipment. This includes heat exchangers for cooling all types of engines, transmissions, auxiliary hydraulic equipment, air conditioning components used in cars, trucks, farm and construction machinery and equipment, and heating and cooling equipment for residential and commercial building HVAC (heating, ventilating, air conditioning and refrigeration equipment). “
A number of other brokerages have also weighed in on MOD. BidaskClub lowered shares of Modine Manufacturing from a buy rating to a hold rating in a report on Monday, July 24th. ValuEngine upgraded shares of Modine Manufacturing from a hold rating to a buy rating in a report on Tuesday, August 1st. Finally, TheStreet upgraded shares of Modine Manufacturing from a c rating to a b- rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Modine Manufacturing has an average rating of Hold and an average price target of $24.00.
Shares of Modine Manufacturing (MOD) traded down $0.05 on Thursday, hitting $22.55. The stock had a trading volume of 175,100 shares, compared to its average volume of 316,524. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.25. Modine Manufacturing has a 12-month low of $10.10 and a 12-month high of $23.70. The company has a market cap of $1,137.73, a PE ratio of 17.25 and a beta of 1.20.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 31st. The auto parts company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.14. Modine Manufacturing had a return on equity of 14.94% and a net margin of 2.29%. The firm had revenue of $508.30 million for the quarter, compared to analysts’ expectations of $466.33 million. During the same period in the previous year, the firm posted ($0.01) EPS. The business’s revenue for the quarter was up 60.0% compared to the same quarter last year. sell-side analysts forecast that Modine Manufacturing will post 1.43 EPS for the current fiscal year.
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In other Modine Manufacturing news, VP Scott D. Wollenberg sold 6,414 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $23.55, for a total transaction of $151,049.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Andrew Burke sold 84,980 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $16.19, for a total transaction of $1,375,826.20. Following the sale, the insider now owns 454,673 shares of the company’s stock, valued at $7,361,155.87. The disclosure for this sale can be found here. 4.42% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN raised its stake in Modine Manufacturing by 10.5% during the 3rd quarter. Wells Fargo & Company MN now owns 36,131 shares of the auto parts company’s stock valued at $696,000 after buying an additional 3,444 shares during the last quarter. Trexquant Investment LP purchased a new stake in Modine Manufacturing during the 3rd quarter valued at $222,000. JPMorgan Chase & Co. raised its stake in Modine Manufacturing by 287.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 39,361 shares of the auto parts company’s stock valued at $762,000 after buying an additional 29,197 shares during the last quarter. Legal & General Group Plc raised its stake in Modine Manufacturing by 34.0% during the 3rd quarter. Legal & General Group Plc now owns 21,791 shares of the auto parts company’s stock valued at $420,000 after buying an additional 5,531 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in Modine Manufacturing by 142.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,781 shares of the auto parts company’s stock valued at $111,000 after buying an additional 3,399 shares during the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.
Modine Manufacturing Company Profile
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.
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