Zacks: Modine Manufacturing Co. (MOD) Given Average Recommendation of “Strong Buy” by Brokerages

Shares of Modine Manufacturing Co. (NYSE:MOD) have received an average broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price objective of $18.00 for the company and are expecting that the company will post $0.34 earnings per share 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 related companies.

A number of equities research analysts have recently commented on MOD shares. Gabelli began coverage on Modine Manufacturing in a research note on Tuesday, January 31st. They issued a “buy” rating on the stock. Zacks Investment Research raised Modine Manufacturing from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th.

Shares of Modine Manufacturing (NYSE:MOD) remained flat at $11.00 during mid-day trading on Monday. The company’s stock had a trading volume of 147,238 shares. Modine Manufacturing has a one year low of $8.45 and a one year high of $16.35. The firm has a 50-day moving average of $11.26 and a 200 day moving average of $12.33. The stock has a market cap of $550.78 million, a PE ratio of 37.93 and a beta of 1.36.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Monday, February 6th. The auto parts company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Modine Manufacturing had a return on equity of 9.39% and a net margin of 1.02%. The business had revenue of $349.80 million for the quarter, compared to analysts’ expectations of $362.96 million. During the same period in the previous year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that Modine Manufacturing will post $0.76 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Kirr Marbach & Co. LLC IN acquired a new stake in shares of Modine Manufacturing during the first quarter worth about $268,000. Rice Hall James & Associates LLC acquired a new stake in shares of Modine Manufacturing during the first quarter worth about $1,945,000. DnB Asset Management AS raised its stake in shares of 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 in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth about $281,000. Finally, Norges Bank acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth about $2,022,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

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Modine Manufacturing Company Profile

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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