Modine Manufacturing (NYSE:MOD) Downgraded to “C” at TheStreet

TheStreet lowered shares of Modine Manufacturing (NYSE:MOD) from a b- rating to a c rating in a research report released on Friday, TheStreetRatingsTable reports.

MOD has been the subject of several other research reports. DA Davidson reissued a neutral rating on shares of Modine Manufacturing in a research report on Wednesday, September 11th. ValuEngine cut shares of Modine Manufacturing from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Dougherty & Co began coverage on shares of Modine Manufacturing in a research note on Wednesday, August 28th. They set a buy rating and a $13.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Modine Manufacturing from a sell rating to a hold rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average price target of $13.83.

Shares of MOD traded up $0.02 during trading hours on Friday, reaching $10.55. 565 shares of the company traded hands, compared to its average volume of 264,785. The stock’s fifty day moving average is $10.51 and its 200 day moving average is $13.28. The stock has a market cap of $532.34 million, a P/E ratio of 6.72, a price-to-earnings-growth ratio of 0.76 and a beta of 2.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.78 and a current ratio of 1.17. Modine Manufacturing has a 1-year low of $9.50 and a 1-year high of $16.67.



Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.05). Modine Manufacturing had a return on equity of 14.19% and a net margin of 3.25%. The business had revenue of $529.00 million during the quarter, compared to analyst estimates of $544.88 million. During the same period last year, the company earned $0.41 EPS. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities research analysts predict that Modine Manufacturing will post 1.38 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MOD. Clearbridge Investments LLC boosted its stake in Modine Manufacturing by 0.5% in the first quarter. Clearbridge Investments LLC now owns 183,086 shares of the auto parts company’s stock valued at $2,539,000 after acquiring an additional 839 shares during the last quarter. Financial Consulate Inc. boosted its stake in Modine Manufacturing by 0.4% in the second quarter. Financial Consulate Inc. now owns 243,061 shares of the auto parts company’s stock valued at $3,478,000 after acquiring an additional 986 shares during the last quarter. Stone Ridge Asset Management LLC boosted its stake in Modine Manufacturing by 7.2% in the second quarter. Stone Ridge Asset Management LLC now owns 17,807 shares of the auto parts company’s stock valued at $255,000 after acquiring an additional 1,200 shares during the last quarter. Aperio Group LLC boosted its stake in Modine Manufacturing by 9.1% in the second quarter. Aperio Group LLC now owns 16,068 shares of the auto parts company’s stock valued at $230,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in Modine Manufacturing by 4.5% in the second quarter. Virginia Retirement Systems ET AL now owns 32,700 shares of the auto parts company’s stock valued at $468,000 after acquiring an additional 1,400 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

About Modine Manufacturing

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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