Modine Manufacturing (NYSE:MOD) Stock Rating Lowered by Dougherty & Co

Modine Manufacturing (NYSE:MOD) was downgraded by equities research analysts at Dougherty & Co from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat reports.

Several other equities research analysts also recently issued reports on MOD. TheStreet downgraded Modine Manufacturing from a “b-” rating to a “c” rating in a report on Friday, September 20th. DA Davidson reaffirmed a “neutral” rating on shares of Modine Manufacturing in a report on Wednesday, September 11th. Zacks Investment Research downgraded Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Friday, October 18th. Finally, ValuEngine raised Modine Manufacturing from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Modine Manufacturing has a consensus rating of “Hold” and an average target price of $13.83.

Modine Manufacturing stock traded down $4.83 during mid-day trading on Friday, hitting $7.02. 2,414,861 shares of the company’s stock traded hands, compared to its average volume of 239,574. The firm has a 50 day simple moving average of $10.89 and a two-hundred day simple moving average of $12.41. Modine Manufacturing has a fifty-two week low of $6.82 and a fifty-two week high of $16.67. The stock has a market cap of $599.32 million, a price-to-earnings ratio of 4.47, a P/E/G 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.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Thursday, November 7th. The auto parts company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.12). Modine Manufacturing had a net margin of 3.25% and a return on equity of 14.19%. The business had revenue of $500.20 million for the quarter, compared to analyst estimates of $514.27 million. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, research analysts anticipate that Modine Manufacturing will post 1.36 earnings per share for the current fiscal year.

In other Modine Manufacturing news, insider Hanna Julian 500,000 shares of Modine Manufacturing stock in a transaction on Friday, October 11th. 5.01% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of MOD. Steward Partners Investment Advisory LLC acquired a new stake in shares of Modine Manufacturing during the second quarter worth $31,000. A.R.T. Advisors LLC bought a new position in shares of Modine Manufacturing in the second quarter worth $215,000. Aperio Group LLC increased 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 purchasing an additional 1,340 shares during the period. Stone Ridge Asset Management LLC increased 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 purchasing an additional 1,200 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Modine Manufacturing in the second quarter worth $267,000. 87.14% of the stock is owned by institutional investors.

About Modine Manufacturing

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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