Shares of Modine Manufacturing Company (NYSE:MOD – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $320.1429.
A number of research analysts have commented on MOD shares. Oppenheimer increased their price target on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. B. Riley Financial restated a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. UBS Group increased their target price on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, KeyCorp decreased their target price on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th.
Read Our Latest Stock Report on Modine Manufacturing
Modine Manufacturing Price Performance
Modine Manufacturing (NYSE:MOD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The company had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.Modine Manufacturing’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the firm posted $0.95 EPS. On average, equities analysts predict that Modine Manufacturing will post 7.65 EPS for the current fiscal year.
Insider Activity
In other news, VP Brian Jon Agen sold 38,282 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. The trade was a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is currently owned by insiders.
Institutional Trading of Modine Manufacturing
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Modine Manufacturing during the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Modine Manufacturing in the fourth quarter worth $25,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing in the third quarter worth $39,000. Rakuten Securities Inc. bought a new stake in Modine Manufacturing during the 2nd quarter valued at $40,000. Finally, PenderFund Capital Management Ltd. bought a new stake in Modine Manufacturing during the 2nd quarter valued at $42,000. Institutional investors own 95.23% of the company’s stock.
Modine Manufacturing Company Profile
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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