Modine Manufacturing Company (MOD) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Modine Manufacturing Company (NYSE:MOD) from a buy rating to a hold rating in a research report report published on Monday, July 24th.

Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Modine Manufacturing from a hold rating to a buy rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Modine Manufacturing from a hold rating to a buy rating and set a $17.00 price objective for the company in a research report on Thursday, June 1st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $17.00.

Modine Manufacturing (MOD) traded down 0.32% during mid-day trading on Monday, reaching $15.55. The company’s stock had a trading volume of 226,367 shares. Modine Manufacturing has a 52 week low of $9.25 and a 52 week high of $17.85. The firm’s 50 day moving average price is $16.46 and its 200 day moving average price is $13.74. The firm has a market capitalization of $779.40 million, a P/E ratio of 33.80 and a beta of 1.20.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.09. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.16%. The firm had revenue of $515.50 million during the quarter, compared to analysts’ expectations of $482.70 million. During the same quarter in the previous year, the company posted $0.23 EPS. Modine Manufacturing’s revenue was up 48.5% on a year-over-year basis. On average, analysts anticipate that Modine Manufacturing will post $1.41 EPS for the current fiscal year.

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In other Modine Manufacturing news, VP Scott D. Wollenberg sold 5,736 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $15.95, for a total transaction of $91,489.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.42% of the company’s stock.

Several hedge funds have recently modified their holdings of MOD. Aperio Group LLC raised its position in shares of Modine Manufacturing by 0.6% in the second quarter. Aperio Group LLC now owns 13,495 shares of the auto parts company’s stock valued at $223,000 after buying an additional 78 shares during the period. Legal & General Group Plc raised its position in shares of Modine Manufacturing by 3.2% in the second quarter. Legal & General Group Plc now owns 16,260 shares of the auto parts company’s stock valued at $269,000 after buying an additional 497 shares during the period. BB&T Securities LLC raised its position in shares of Modine Manufacturing by 4.2% in the second quarter. BB&T Securities LLC now owns 13,600 shares of the auto parts company’s stock valued at $225,000 after buying an additional 550 shares during the period. Rhumbline Advisers raised its position in shares of Modine Manufacturing by 1.6% in the second quarter. Rhumbline Advisers now owns 63,347 shares of the auto parts company’s stock valued at $1,048,000 after buying an additional 985 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Modine Manufacturing by 11.5% in the first quarter. Bank of America Corp DE now owns 9,799 shares of the auto parts company’s stock valued at $120,000 after buying an additional 1,008 shares during the period. Institutional investors own 84.76% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment manufacturer (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, exhaust gas recirculation coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils.

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