Modine Manufacturing (MOD) Lowered to “Buy” at ValuEngine

ValuEngine cut shares of Modine Manufacturing (NYSE:MOD) from a strong-buy rating to a buy rating in a research note released on Monday morning.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Modine Manufacturing from a buy rating to a hold rating in a research note on Thursday, November 9th. BidaskClub cut shares of Modine Manufacturing from a hold rating to a sell rating in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $24.00.

Modine Manufacturing (MOD) traded up $0.10 during mid-day trading on Monday, reaching $21.20. 366,300 shares of the company’s stock were exchanged, compared to its average volume of 319,382. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.25 and a quick ratio of 0.87. Modine Manufacturing has a one year low of $10.10 and a one year high of $23.95. The company has a market capitalization of $1,062.22, a PE ratio of 16.11 and a beta of 1.22.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, October 31st. The auto parts company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.14. Modine Manufacturing had a net margin of 2.29% and a return on equity of 14.94%. The business had revenue of $508.30 million during the quarter, compared to analysts’ expectations of $466.33 million. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 60.0% on a year-over-year basis. equities analysts forecast that Modine Manufacturing will post 1.43 earnings per share for the current fiscal year.

In other news, VP Scott D. Wollenberg sold 6,414 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $23.55, for a total transaction of $151,049.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Holger Schwab sold 7,572 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $22.62, for a total transaction of $171,278.64. Following the sale, the vice president now directly owns 50,159 shares of the company’s stock, valued at approximately $1,134,596.58. The disclosure for this sale can be found here. Insiders sold 24,508 shares of company stock valued at $557,019 in the last three months. Company insiders own 4.42% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can grew its stake in shares of Modine Manufacturing by 142.7% during the third quarter. Great West Life Assurance Co. Can now owns 5,781 shares of the auto parts company’s stock valued at $111,000 after purchasing an additional 3,399 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Modine Manufacturing by 11.5% during the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after purchasing an additional 1,008 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Modine Manufacturing during the third quarter valued at approximately $152,000. BNP Paribas Arbitrage SA grew its stake in shares of Modine Manufacturing by 118.1% during the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock valued at $155,000 after purchasing an additional 5,067 shares during the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $215,000. 82.36% of the stock is owned by institutional investors.

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About Modine Manufacturing

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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