Wall Street Zen Downgrades Modine Manufacturing (NYSE:MOD) to Hold

Key Points

• Wall Street Zen has downgraded Modine Manufacturing from a "buy" to a "hold" rating, indicating a shift in analyst sentiment towards the company's stock.
• Despite the downgrade, analysts from KeyCorp and Oppenheimer have raised their target prices for Modine, signaling continued investment interest.
• Modine Manufacturing reported a quarterly earnings per share of $1.06, exceeding estimates, with a year-over-year revenue increase of 3.2%.

Modine Manufacturing (NYSE:MOD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other research analysts have also issued reports on MOD. KeyCorp lifted their target price on Modine Manufacturing from $125.00 to $150.00 and gave the company an "overweight" rating in a report on Thursday. Oppenheimer lifted their target price on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st.

Modine Manufacturing Trading Down 1.0%

MOD opened at $133.24 on Friday. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $146.84. The business has a fifty day simple moving average of $98.25 and a 200-day simple moving average of $93.61. The firm has a market cap of $6.99 billion, a P/E ratio of 38.18, a P/E/G ratio of 0.88 and a beta of 2.12. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a return on equity of 24.82% and a net margin of 7.21%. The business had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. During the same period last year, the business posted $1.04 earnings per share. The company's quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Insider Transactions at Modine Manufacturing

In related news, EVP Michael B. Lucareli sold 5,778 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $115.00, for a total transaction of $664,470.00. Following the transaction, the executive vice president owned 121,142 shares of the company's stock, valued at $13,931,330. This trade represents a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian Jon Agen sold 47,939 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total value of $5,297,259.50. Following the transaction, the vice president directly owned 90,015 shares in the company, valued at approximately $9,946,657.50. This represents a 34.75% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.48% of the company's stock.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in MOD. LPL Financial LLC grew its holdings in shares of Modine Manufacturing by 3.7% during the fourth quarter. LPL Financial LLC now owns 50,358 shares of the auto parts company's stock worth $5,838,000 after buying an additional 1,790 shares during the last quarter. Norges Bank purchased a new stake in Modine Manufacturing in the 4th quarter valued at approximately $31,590,000. Schroder Investment Management Group boosted its holdings in Modine Manufacturing by 327.7% in the 4th quarter. Schroder Investment Management Group now owns 16,741 shares of the auto parts company's stock valued at $1,969,000 after purchasing an additional 12,827 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Modine Manufacturing by 23.6% in the 4th quarter. California Public Employees Retirement System now owns 85,690 shares of the auto parts company's stock valued at $9,934,000 after purchasing an additional 16,376 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Modine Manufacturing by 18.1% in the 4th quarter. Franklin Resources Inc. now owns 315,002 shares of the auto parts company's stock valued at $36,518,000 after purchasing an additional 48,271 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.

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