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

Wall Street Zen downgraded shares of Modine Manufacturing (NYSE:MOD) from a buy rating to a hold rating in a report published on Sunday.

Other equities research analysts also recently issued reports about the company. UBS Group initiated coverage on Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Oppenheimer boosted their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Roth Mkm initiated coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price target for the company. Finally, DA Davidson lifted their price target on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $223.20.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $236.96 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $237.49. The company has a 50 day simple moving average of $164.46 and a two-hundred day simple moving average of $153.65. The company has a market capitalization of $12.49 billion, a PE ratio of 131.64, a P/E/G ratio of 1.36 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. Research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 34,071 shares of company stock valued at $5,484,685 over the last three months. 2.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new position in shares of Modine Manufacturing during the 4th quarter valued at $25,000. Spire Wealth Management purchased a new position in Modine Manufacturing in the 4th quarter valued at approximately $27,000. First Horizon Corp purchased a new stake in shares of Modine Manufacturing during the third quarter worth $38,000. Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing during the 3rd quarter worth about $39,000. Finally, Parkside Financial Bank & Trust grew its stake in Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

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.