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

Key Points

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Modine Manufacturing Company (NYSE:MOD - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $234.3333.

Several equities research analysts have recently weighed in on the stock. Glj Research assumed coverage on shares of Modine Manufacturing in a research note on Monday, March 30th. They set a "buy" rating and a $290.00 target price for the company. DA Davidson restated a "buy" rating and set a $265.00 price target on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Roth Mkm began coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They issued a "buy" rating and a $263.00 price objective on the stock. Oppenheimer raised their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Modine Manufacturing in a research note on Monday, December 29th.

Insiders Place Their Bets

In other news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the transaction, the director directly owned 79,856 shares of the company's stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.48% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its position in shares of Modine Manufacturing by 17.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company's stock worth $71,000 after purchasing an additional 75 shares in the last quarter. Xponance LLC lifted its stake in shares of Modine Manufacturing by 1.7% in the fourth quarter. Xponance LLC now owns 4,424 shares of the auto parts company's stock valued at $591,000 after purchasing an additional 75 shares during the period. State of Alaska Department of Revenue boosted its holdings in Modine Manufacturing by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company's stock worth $421,000 after buying an additional 103 shares in the last quarter. NewEdge Advisors LLC grew its position in Modine Manufacturing by 18.3% during the fourth quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company's stock worth $91,000 after buying an additional 105 shares during the period. Finally, Intrust Bank NA lifted its position in shares of Modine Manufacturing by 2.3% during the 3rd quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company's stock valued at $699,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Stock Up 3.1%

MOD opened at $251.18 on Tuesday. Modine Manufacturing has a one year low of $67.80 and a one year high of $260.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The stock has a market capitalization of $13.24 billion, a P/E ratio of 139.54, a price-to-earnings-growth ratio of 0.99 and a beta of 1.68. The business's 50-day simple moving average is $218.93 and its 200-day simple moving average is $174.56.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.20. The company had revenue of $805.00 million during the quarter, compared to analysts' expectations of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm's revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. Analysts anticipate that Modine Manufacturing will post 4.82 EPS for the current year.

About Modine Manufacturing

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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