Modine Manufacturing Company (NYSE:MOD) Given Average Rating of “Buy” by Analysts

Modine Manufacturing Company (NYSE:MOD) has received a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $223.20.

Several equities research analysts recently issued reports on the company. Oppenheimer lifted their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. UBS Group assumed coverage on Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective for the company. Roth Mkm started coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. Finally, DA Davidson boosted their price target on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, February 9th.

Insider Buying and Selling at Modine Manufacturing

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

Hedge Funds Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new stake in Modine Manufacturing in the 4th quarter worth approximately $25,000. Spire Wealth Management purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at approximately $27,000. First Horizon Corp bought a new position in shares of Modine Manufacturing during the third quarter valued at approximately $38,000. Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing in the third quarter worth $39,000. Finally, Parkside Financial Bank & Trust lifted its stake in Modine Manufacturing by 2,025.0% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 405 shares during the period. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $229.18 on Monday. The company has a 50 day moving average of $170.20 and a 200 day moving average of $155.53. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The stock has a market cap of $12.08 billion, a P/E ratio of 127.41, a P/E/G ratio of 1.39 and a beta of 1.66. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $243.80.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. As a group, sell-side analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

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.