Modine Manufacturing (NYSE:MOD) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Modine Manufacturing (NYSE:MOD – Get Rating) in a research report report published on Thursday morning. The firm issued a strong-buy rating on the auto parts company’s stock.

MOD has been the subject of several other reports. CJS Securities began coverage on shares of Modine Manufacturing in a research report on Tuesday, December 6th. They set an outperform rating for the company. EF Hutton Acquisition Co. I initiated coverage on shares of Modine Manufacturing in a research note on Tuesday, January 17th. They set a buy rating and a $32.00 target price for the company. Finally, DA Davidson increased their target price on shares of Modine Manufacturing from $28.00 to $35.00 and gave the stock a buy rating in a research note on Tuesday, February 21st. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Modine Manufacturing has a consensus rating of Buy and a consensus price target of $33.50.

Modine Manufacturing Price Performance

Shares of NYSE MOD traded down $1.53 during mid-day trading on Thursday, reaching $21.03. The company’s stock had a trading volume of 844,366 shares, compared to its average volume of 477,790. Modine Manufacturing has a 1-year low of $7.67 and a 1-year high of $26.90. The stock has a market capitalization of $1.10 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.51 and a beta of 2.28. The stock has a 50-day moving average of $23.46 and a two-hundred day moving average of $19.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.06 and a current ratio of 1.73.

Modine Manufacturing (NYSE:MOD – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.05. Modine Manufacturing had a net margin of 3.18% and a return on equity of 21.07%. The firm had revenue of $560.00 million during the quarter, compared to analysts’ expectations of $562.38 million. During the same period last year, the business earned $0.31 earnings per share. Modine Manufacturing’s revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that Modine Manufacturing will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael B. Lucareli sold 13,379 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $25.08, for a total value of $335,545.32. Following the completion of the transaction, the chief financial officer now owns 293,287 shares in the company, valued at $7,355,637.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.06% of the stock is owned by insiders.

Institutional Trading of Modine Manufacturing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in Modine Manufacturing by 966.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 1,334 shares in the last quarter. TCI Wealth Advisors Inc. acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at $30,000. Point72 Middle East FZE acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at $31,000. Dorsey Wright & Associates acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at $38,000. Finally, Assetmark Inc. increased its holdings in shares of Modine Manufacturing by 75.8% in the 3rd quarter. Assetmark Inc. now owns 2,268 shares of the auto parts company’s stock valued at $29,000 after acquiring an additional 978 shares during the period. Institutional investors and hedge funds own 89.09% of the company’s stock.

About Modine Manufacturing

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Modine Manufacturing Co engages in provision of thermal management solutions. It operates through the following segments: Heavy-Duty Equipment(HDE), Automotive, Commercial and Industrial Solutions (CIS), and Building HVAC Systems (BHVAC). The HDE segment provides powertrain and engine cooling products, including, but not limited to, radiators, charge air coolers, condensers, oil coolers, EGR coolers, fuel coolers, electronics cooling packages, and battery thermal management systems to OEMs in the commercial vehicle, off-highway, and automotive and light vehicle markets in North America, South America, Europe, and Asia.