Modine Manufacturing Company (NYSE:MOD) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Modine Manufacturing, with seven buy ratings and two holds. The average 12-month price target is approximately $320.14.
• Modine reported quarterly EPS of $1.53, beating the $1.27 consensus estimate, while revenue rose 28% year over year to $874.1 million, slightly below expectations.
• The stock recently traded at $187.51, well below its 12-month high of $323.25. Insiders have sold 54,302 shares worth about $15.9 million over the past 90 days, while institutional investors own 95.23% of the company.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) has received an average rating of "Moderate Buy" from the nine brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $320.1429.

A number of analysts recently issued reports on the company. DA Davidson reissued a "buy" rating and set a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. UBS Group upped their price target on Modine Manufacturing to $310.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. B. Riley Financial reissued a "buy" rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th.

Insider Buying and Selling

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares of the company's stock, valued at $12,219,669. This trade represents a 26.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 54,302 shares of company stock valued at $15,928,759. Company insiders own 1.92% of the company's stock.

Institutional Trading of Modine Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in Modine Manufacturing during the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Modine Manufacturing in the 4th quarter worth $25,000. Sunbelt Securities Inc. bought a new position in shares of Modine Manufacturing in the 3rd quarter worth $39,000. Rakuten Securities Inc. purchased a new stake in shares of Modine Manufacturing during the 2nd quarter valued at $40,000. Finally, PenderFund Capital Management Ltd. purchased a new stake in shares of Modine Manufacturing during the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Performance

Modine Manufacturing stock traded down $10.17 during mid-day trading on Monday, reaching $187.51. The company's stock had a trading volume of 179,892 shares, compared to its average volume of 1,390,261. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a market capitalization of $9.96 billion, a P/E ratio of 70.72, a PEG ratio of 0.65 and a beta of 1.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The firm's fifty day moving average price is $232.44 and its two-hundred day moving average price is $236.31.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million for the quarter, compared to analysts' expectations of $878.69 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The business's revenue for the quarter was up 28.0% compared to the same quarter last year. Sell-side analysts predict that Modine Manufacturing will post 7.65 EPS for the current fiscal year.

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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