Shares of Modine Manufacturing (NYSE:MOD) have earned an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price objective of $29.50 for the company and are forecasting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also assigned Modine Manufacturing an industry rank of 88 out of 265 based on the ratings given to related companies.
MOD has been the subject of a number of research reports. Zacks Investment Research upgraded Modine Manufacturing from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Saturday, February 3rd. ValuEngine lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Friday, April 13th.
Several large investors have recently added to or reduced their stakes in MOD. BlackRock Inc. increased its holdings in shares of Modine Manufacturing by 14.6% in the fourth quarter. BlackRock Inc. now owns 3,764,008 shares of the auto parts company’s stock valued at $76,032,000 after purchasing an additional 479,011 shares during the period. Millennium Management LLC increased its holdings in shares of Modine Manufacturing by 81.4% in the fourth quarter. Millennium Management LLC now owns 1,067,335 shares of the auto parts company’s stock valued at $21,560,000 after purchasing an additional 478,987 shares during the period. Keeley Teton Advisors LLC grew its holdings in Modine Manufacturing by 70.9% during the fourth quarter. Keeley Teton Advisors LLC now owns 458,581 shares of the auto parts company’s stock worth $9,263,000 after acquiring an additional 190,301 shares during the period. Brandywine Global Investment Management LLC acquired a new position in Modine Manufacturing during the fourth quarter worth $3,113,000. Finally, Castleark Management LLC grew its holdings in Modine Manufacturing by 79.5% during the fourth quarter. Castleark Management LLC now owns 332,251 shares of the auto parts company’s stock worth $6,711,000 after acquiring an additional 147,116 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.
NYSE MOD traded down $0.45 on Monday, reaching $19.80. The stock had a trading volume of 205,351 shares, compared to its average volume of 364,831. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.84. Modine Manufacturing has a 12-month low of $11.15 and a 12-month high of $25.75. The stock has a market cap of $1,021.84, a P/E ratio of 25.38 and a beta of 1.33.
Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. Modine Manufacturing had a return on equity of 16.54% and a net margin of 0.62%. The company had revenue of $512.70 million during the quarter, compared to analysts’ expectations of $456.30 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 46.6% on a year-over-year basis. research analysts predict that Modine Manufacturing will post 1.5 earnings per share for the current year.
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About Modine Manufacturing
Modine Manufacturing Company develops, manufactures, and markets engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer vehicular applications. The company operates through Americas, Europe, Asia, and Building HVAC segments. It offers powertrain cooling products, such as engine cooling modules, radiators, charge air coolers, condensers, oil coolers, fan shrouds, and surge tanks; on-engine cooling products consisting of exhaust gas recirculation coolers, engine oil coolers, fuel coolers, charge air coolers, and intake air coolers; and auxiliary coolers, such as transmission and retarder oil coolers, and power steering coolers, as well as component assemblies, radiators, and battery cooling products.
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