Zacks Research Downgrades Modine Manufacturing (NYSE:MOD) to Hold

Key Points

• Zacks Research downgraded Modine Manufacturing (NYSE:MOD) from "strong-buy" to "hold" on Monday, and Wall Street Zen had previously moved its rating to "hold" in February.
• Despite the downgrades, the consensus remains a "Moderate Buy" (six Buys, two Holds) with a $234.33 target price, while several analysts still issued higher targets (Glj $290, Roth MKM $263) and Oppenheimer raised its target to $240; the company also recently beat quarterly EPS and revenue estimates with revenue up 30.5% year‑over‑year.

Modine Manufacturing (NYSE:MOD - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Glj Research assumed coverage on Modine Manufacturing in a report on Monday, March 30th. They issued a "buy" rating and a $290.00 price objective for the company. Roth Mkm assumed coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a "buy" rating and a $263.00 price objective for the company. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, February 22nd. Oppenheimer increased their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Modine Manufacturing in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of "Moderate Buy" and a consensus target price of $234.33.

Modine Manufacturing Trading Down 1.2%

NYSE MOD opened at $253.91 on Monday. The company has a market cap of $13.39 billion, a PE ratio of 141.06, a PEG ratio of 1.05 and a beta of 1.68. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 12 month low of $67.80 and a 12 month high of $260.01. The stock has a 50 day moving average of $216.36 and a 200-day moving average of $171.83.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The company had revenue of $805.00 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, equities research analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction 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 transaction, the director owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Modine Manufacturing by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company's stock worth $722,297,000 after buying an additional 97,035 shares during the period. Wellington Management Group LLP increased its position in Modine Manufacturing by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company's stock worth $384,415,000 after buying an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD increased its position in Modine Manufacturing by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company's stock worth $311,503,000 after buying an additional 560,131 shares during the period. Wasatch Advisors LP increased its position in Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company's stock worth $176,553,000 after buying an additional 23,955 shares during the period. Finally, Capital Research Global Investors increased its position in Modine Manufacturing by 13.8% during the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company's stock worth $197,358,000 after buying an additional 179,617 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.