Modine Manufacturing Co. (NYSE:MOD) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.
Brokers have set a 1 year consensus price target of $18.00 for the company and are forecasting that the company will post $0.34 EPS for the current quarter, according to Zacks. Zacks has also assigned Modine Manufacturing an industry rank of 37 out of 265 based on the ratings given to its competitors.
MOD has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Modine Manufacturing from a “strong-buy” rating to a “sell” rating in a report on Wednesday, February 8th. Gabelli initiated coverage on Modine Manufacturing in a report on Tuesday, January 31st. They set a “buy” rating for the company.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Putnam Investments LLC bought a new position in Modine Manufacturing during the fourth quarter worth $5,838,000. Lazard Asset Management LLC raised its position in Modine Manufacturing by 48.4% in the third quarter. Lazard Asset Management LLC now owns 933,070 shares of the auto parts company’s stock worth $11,066,000 after buying an additional 304,300 shares during the last quarter. DnB Asset Management AS raised its position in Modine Manufacturing by 22.9% in the first quarter. DnB Asset Management AS now owns 1,334,355 shares of the auto parts company’s stock worth $16,279,000 after buying an additional 248,371 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Modine Manufacturing by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,181,913 shares of the auto parts company’s stock worth $47,411,000 after buying an additional 162,923 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new position in Modine Manufacturing during the first quarter worth $1,945,000. 84.29% of the stock is owned by institutional investors and hedge funds.
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Shares of Modine Manufacturing (NYSE:MOD) remained flat at $11.00 during trading on Monday. The company’s stock had a trading volume of 147,238 shares. The company has a 50 day moving average price of $11.26 and a 200 day moving average price of $12.33. Modine Manufacturing has a 12 month low of $8.45 and a 12 month high of $16.35. The stock has a market capitalization of $550.78 million, a P/E ratio of 37.93 and a beta of 1.36.
Modine Manufacturing (NYSE:MOD) last posted its earnings results on Monday, February 6th. The auto parts company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.03. The company had revenue of $349.80 million for the quarter, compared to analysts’ expectations of $362.96 million. Modine Manufacturing had a net margin of 1.02% and a return on equity of 9.39%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. On average, analysts forecast that Modine Manufacturing will post $0.76 earnings per share for the current year.
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.
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