Modine Manufacturing (NYSE:MOD) Earns Neutral Rating from DA Davidson

Modine Manufacturing (NYSE:MOD)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a report released on Wednesday, Zacks.com reports.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Modine Manufacturing from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Modine Manufacturing from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. TheStreet upgraded Modine Manufacturing from a “c+” rating to a “b-” rating in a report on Monday, July 1st. Finally, Dougherty & Co began coverage on Modine Manufacturing in a report on Wednesday, August 28th. They set a “buy” rating and a $13.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.83.

NYSE MOD traded up $0.31 during trading on Wednesday, reaching $11.82. 237,555 shares of the company’s stock were exchanged, compared to its average volume of 291,278. The business has a 50 day moving average price of $10.95 and a 200-day moving average price of $13.49. The stock has a market capitalization of $599.87 million, a P/E ratio of 7.53, a PEG ratio of 0.81 and a beta of 2.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 0.78. Modine Manufacturing has a fifty-two week low of $9.50 and a fifty-two week high of $16.67.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The business had revenue of $529.00 million for the quarter, compared to analyst estimates of $544.88 million. Modine Manufacturing had a return on equity of 14.19% and a net margin of 3.25%. Modine Manufacturing’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. On average, analysts forecast that Modine Manufacturing will post 1.4 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $31,000. BNP Paribas Arbitrage SA boosted its stake in shares of Modine Manufacturing by 271.0% in the first quarter. BNP Paribas Arbitrage SA now owns 11,429 shares of the auto parts company’s stock valued at $159,000 after buying an additional 8,348 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $215,000. Aperio Group LLC boosted its stake in shares of Modine Manufacturing by 9.1% in the second quarter. Aperio Group LLC now owns 16,068 shares of the auto parts company’s stock valued at $230,000 after buying an additional 1,340 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Modine Manufacturing by 188.3% in the first quarter. Bank of Montreal Can now owns 17,798 shares of the auto parts company’s stock valued at $247,000 after buying an additional 11,625 shares during the period. Institutional investors own 87.38% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

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