Dougherty & Co downgraded shares of Modine Manufacturing (NYSE:MOD) from a buy rating to a neutral rating in a research report released on Friday morning, Benzinga’s Daily Ratings Newsletter reports.
Several other research firms have also weighed in on MOD. DA Davidson reissued a neutral rating on shares of Modine Manufacturing in a research note on Wednesday, September 11th. ValuEngine raised Modine Manufacturing from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. TheStreet lowered Modine Manufacturing from a b- rating to a c rating in a research note on Friday, September 20th. Finally, Zacks Investment Research lowered Modine Manufacturing from a hold rating to a sell rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Modine Manufacturing presently has an average rating of Hold and an average price target of $13.83.
Shares of MOD traded down $4.83 during trading hours on Friday, hitting $7.02. 2,414,861 shares of the company were exchanged, compared to its average volume of 239,574. The company has a market capitalization of $599.32 million, a PE ratio of 4.47, a PEG ratio of 0.87 and a beta of 1.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 0.78. The firm has a fifty day simple moving average of $10.89 and a 200-day simple moving average of $12.41. Modine Manufacturing has a one year low of $6.82 and a one year high of $16.67.
In related news, insider Hanna Julian 500,000 shares of the business’s stock in a transaction dated Friday, October 11th. Company insiders own 5.01% of the company’s stock.
Several institutional investors have recently modified their holdings of MOD. Steward Partners Investment Advisory LLC acquired a new stake in shares of Modine Manufacturing in the second quarter worth $31,000. A.R.T. Advisors LLC acquired a new stake in shares of Modine Manufacturing in the second quarter worth $215,000. Aperio Group LLC boosted its position in shares of Modine Manufacturing by 9.1% in the second quarter. Aperio Group LLC now owns 16,068 shares of the auto parts company’s stock worth $230,000 after buying an additional 1,340 shares during the period. Stone Ridge Asset Management LLC boosted its position in shares of 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 worth $255,000 after buying an additional 1,200 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of Modine Manufacturing in the second quarter worth $267,000. 87.14% of the stock is owned by institutional investors and hedge funds.
Modine Manufacturing Company Profile
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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