Robert W. Baird lowered shares of Modine Manufacturing (NYSE:MOD) from an outperform rating to a neutral rating in a report released on Monday morning, Briefing.com Automated Import reports. They currently have $9.00 target price on the auto parts company’s stock, down from their prior target price of $14.00.
MOD has been the topic of a number of other research reports. Zacks Investment Research downgraded Modine Manufacturing from a hold rating to a sell rating in a research note on Friday, October 18th. ValuEngine upgraded Modine Manufacturing from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. TheStreet downgraded Modine Manufacturing from a b- rating to a c rating in a research note on Friday, September 20th. Dougherty & Co downgraded Modine Manufacturing from a buy rating to a neutral rating in a research note on Friday, November 8th. Finally, DA Davidson restated a neutral rating on shares of Modine Manufacturing in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $12.63.
MOD traded up $0.23 during midday trading on Monday, reaching $7.60. 598,539 shares of the company were exchanged, compared to its average volume of 247,308. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.78 and a current ratio of 1.17. The company’s fifty day moving average price is $10.56 and its 200 day moving average price is $12.20. The company has a market cap of $378.07 million, a price-to-earnings ratio of 4.84, a price-to-earnings-growth ratio of 0.90 and a beta of 1.99. Modine Manufacturing has a one year low of $6.82 and a one year high of $16.67.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Thursday, November 7th. The auto parts company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.12). Modine Manufacturing had a return on equity of 11.85% and a net margin of 1.30%. The company had revenue of $500.20 million for the quarter, compared to the consensus estimate of $514.27 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Modine Manufacturing will post 0.82 earnings per share for the current fiscal year.
In other Modine Manufacturing news, insider Hanna Julian 500,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. 5.01% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. LSV Asset Management lifted its stake in Modine Manufacturing by 0.7% in the second quarter. LSV Asset Management now owns 1,638,139 shares of the auto parts company’s stock valued at $23,441,000 after purchasing an additional 11,500 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Modine Manufacturing by 35.3% in the third quarter. Wedge Capital Management L L P NC now owns 1,299,964 shares of the auto parts company’s stock valued at $14,781,000 after purchasing an additional 338,862 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Modine Manufacturing by 43.5% in the second quarter. Parametric Portfolio Associates LLC now owns 1,013,618 shares of the auto parts company’s stock valued at $14,505,000 after purchasing an additional 307,036 shares during the last quarter. Northern Trust Corp lifted its stake in Modine Manufacturing by 1.9% in the second quarter. Northern Trust Corp now owns 989,102 shares of the auto parts company’s stock valued at $14,154,000 after purchasing an additional 18,630 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Modine Manufacturing in the second quarter valued at approximately $12,756,000. Institutional investors and hedge funds own 89.34% 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- 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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