Modine Manufacturing Company (NYSE:MOD) Receives Average Rating of “Moderate Buy” from Brokerages

Modine Manufacturing Company (NYSE:MODGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $327.1429.

Several analysts recently issued reports on the company. KeyCorp upped their target price on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. UBS Group increased their target price on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. B. Riley Financial raised their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, DA Davidson reiterated a “buy” rating and issued a $330.00 target price on shares of Modine Manufacturing in a report on Monday, June 22nd.

Check Out Our Latest Report on MOD

Insiders Place Their Bets

In other news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the sale, the director directly owned 42,350 shares in the company, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 54,302 shares of company stock worth $15,928,759. Insiders own 2.48% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock valued at $2,857,000 after purchasing an additional 7,831 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Modine Manufacturing by 8.3% in the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after buying an additional 5,244 shares during the period. State Street Corp boosted its position in shares of Modine Manufacturing by 4.2% in the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after purchasing an additional 53,351 shares during the period. Qube Research & Technologies Ltd increased its stake in Modine Manufacturing by 106.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after buying an additional 83,105 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Modine Manufacturing by 70.8% during the 2nd quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock valued at $30,501,000 after purchasing an additional 128,348 shares during the period. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Price Performance

MOD stock traded up $0.30 during trading on Friday, hitting $231.27. The company had a trading volume of 1,787,603 shares, compared to its average volume of 1,693,626. The company has a fifty day moving average price of $270.29 and a two-hundred day moving average price of $217.05. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. Modine Manufacturing has a fifty-two week low of $86.48 and a fifty-two week high of $323.25. The company has a market cap of $12.22 billion, a P/E ratio of 103.24, a P/E/G ratio of 0.75 and a beta of 1.67.

Modine Manufacturing (NYSE:MODGet Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company had revenue of $954.40 million for the quarter, compared to analyst estimates of $920.67 million. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The business’s revenue was up 47.5% on a year-over-year basis. Equities research analysts expect that Modine Manufacturing will post 7.73 earnings per share for the current fiscal year.

About Modine Manufacturing

(Get Free Report)

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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Analyst Recommendations for Modine Manufacturing (NYSE:MOD)

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