Zacks: Modine Manufacturing Co. (MOD) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of Modine Manufacturing Co. (NYSE:MOD) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a 1-year consensus price objective of $25.00 for the company and are forecasting that the company will post $0.36 earnings per share for the current quarter, according to Zacks. Zacks has also given Modine Manufacturing an industry rank of 192 out of 256 based on the ratings given to its competitors.

A number of research analysts have issued reports on the company. Zacks Investment Research raised Modine Manufacturing from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, February 5th. ValuEngine raised Modine Manufacturing from a “strong sell” rating to a “sell” rating in a report on Friday.

In related news, VP Matthew J. Mcburney sold 4,988 shares of Modine Manufacturing stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $14.74, for a total value of $73,523.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dennis P. Appel purchased 3,180 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of $13.99 per share, with a total value of $44,488.20. Following the completion of the acquisition, the vice president now directly owns 33,543 shares of the company’s stock, valued at $469,266.57. The disclosure for this purchase can be found here. 4.48% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in MOD. Quantamental Technologies LLC bought a new position in shares of Modine Manufacturing in the first quarter valued at about $29,000. Advisor Group Inc. raised its holdings in shares of Modine Manufacturing by 129.3% in the fourth quarter. Advisor Group Inc. now owns 3,346 shares of the auto parts company’s stock valued at $36,000 after buying an additional 1,887 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Modine Manufacturing in the first quarter valued at about $54,000. Bank of Montreal Can raised its holdings in shares of Modine Manufacturing by 23.3% in the fourth quarter. Bank of Montreal Can now owns 6,173 shares of the auto parts company’s stock valued at $67,000 after buying an additional 1,165 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new position in shares of Modine Manufacturing in the fourth quarter valued at about $124,000. 88.47% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE MOD traded up $0.59 during midday trading on Friday, reaching $14.14. 280,365 shares of the company traded hands, compared to its average volume of 197,716. The stock has a market cap of $715.88 million, a PE ratio of 9.18 and a beta of 1.97. Modine Manufacturing has a 12 month low of $9.75 and a 12 month high of $19.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.85 and a current ratio of 1.30.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Wednesday, May 22nd. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.02. The company had revenue of $556.70 million during the quarter, compared to analysts’ expectations of $577.30 million. Modine Manufacturing had a return on equity of 16.34% and a net margin of 4.32%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. Analysts predict that Modine Manufacturing will post 1.57 earnings per share 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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