Modine Manufacturing Co. (NYSE:MOD) Receives Average Recommendation of “Hold” from Analysts

Shares of Modine Manufacturing Co. (NYSE:MOD) have been given a consensus rating of “Hold” by the six research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $9.00.

A number of research firms recently weighed in on MOD. TheStreet cut shares of Modine Manufacturing from a “b-” rating to a “c” rating in a research note on Friday, September 20th. Zacks Investment Research lowered Modine Manufacturing from a “hold” rating to a “sell” rating in a research note on Friday, October 18th. Dougherty & Co cut Modine Manufacturing from a “buy” rating to a “neutral” rating in a research report on Friday, November 8th. DA Davidson reiterated a “neutral” rating on shares of Modine Manufacturing in a research note on Wednesday, September 11th. Finally, Robert W. Baird lowered Modine Manufacturing from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $9.00 in a report on Monday, November 11th.

In related news, VP Matthew J. Mcburney sold 4,900 shares of Modine Manufacturing stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $6.88, for a total transaction of $33,712.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hanna Julian 500,000 shares of the firm’s stock in a transaction on Friday, October 11th. 5.01% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Stone Ridge Asset Management LLC grew its holdings 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 purchasing an additional 1,200 shares during the period. Aperio Group LLC grew 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 valued at $230,000 after purchasing an additional 1,340 shares during the period. Virginia Retirement Systems ET AL grew its position in shares of 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 purchasing an additional 1,400 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Modine Manufacturing by 6.2% during the third quarter. Envestnet Asset Management Inc. now owns 24,536 shares of the auto parts company’s stock worth $279,000 after purchasing an additional 1,442 shares in the last quarter. Finally, ICM Asset Management Inc. WA increased its stake in shares of Modine Manufacturing by 0.6% during the second quarter. ICM Asset Management Inc. WA now owns 239,230 shares of the auto parts company’s stock worth $3,423,000 after purchasing an additional 1,500 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

NYSE MOD opened at $6.97 on Friday. Modine Manufacturing has a 12 month low of $6.58 and a 12 month high of $16.67. The stock has a market cap of $376.91 million, a price-to-earnings ratio of 4.44, a PEG ratio of 0.91 and a beta of 1.87. The company’s 50 day moving average is $9.18 and its two-hundred day moving average is $11.47. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Thursday, November 7th. The auto parts company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.12). The firm had revenue of $500.20 million during the quarter, compared to the consensus estimate of $514.27 million. Modine Manufacturing had a return on equity of 11.95% and a net margin of 1.30%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 earnings per share. Sell-side analysts forecast that Modine Manufacturing will post 0.81 EPS for the current year.

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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