ValuEngine upgraded shares of Modine Manufacturing Company (NYSE:MOD) from a hold rating to a buy rating in a report issued on Tuesday morning.
Several other research firms have also recently commented on MOD. Zacks Investment Research cut shares of Modine Manufacturing from a hold rating to a sell rating in a report on Saturday, April 22nd. BidaskClub cut shares of Modine Manufacturing from a buy rating to a hold rating in a report on Monday, July 24th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $17.00.
Shares of Modine Manufacturing (NYSE:MOD) traded up 2.69% during midday trading on Tuesday, hitting $17.20. 361,850 shares of the stock traded hands. The stock has a 50-day moving average of $16.55 and a 200-day moving average of $13.49. Modine Manufacturing has a 52-week low of $9.25 and a 52-week high of $17.38. The company has a market cap of $861.70 million, a price-to-earnings ratio of 37.23 and a beta of 1.20.
Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.30 by $0.09. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.52%. The company had revenue of $515.50 million during the quarter, compared to analysts’ expectations of $482.70 million. During the same quarter in the previous year, the business posted $0.23 EPS. The firm’s revenue was up 48.5% on a year-over-year basis. On average, equities analysts predict that Modine Manufacturing will post $1.41 earnings per share for the current fiscal year.
In other news, VP Scott D. Wollenberg sold 5,736 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $15.95, for a total transaction of $91,489.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.42% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of MOD. Bank of America Corp DE increased its stake in shares of Modine Manufacturing by 11.5% in the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after buying an additional 1,008 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Modine Manufacturing by 118.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,356 shares of the auto parts company’s stock valued at $155,000 after buying an additional 5,067 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Modine Manufacturing during the first quarter valued at $159,000. Karp Capital Management Corp bought a new stake in shares of Modine Manufacturing during the first quarter valued at $164,000. Finally, Citadel Advisors LLC bought a new stake in shares of Modine Manufacturing during the first quarter valued at $176,000. Institutional investors and hedge funds own 82.87% of the company’s stock.
About Modine Manufacturing
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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