Modine Manufacturing Company (MOD) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Modine Manufacturing Company (NYSE:MOD) from a sell rating to a hold rating in a research note issued to investors on Saturday, August 5th.

Other research analysts have also recently issued reports about the stock. TheStreet raised shares of Modine Manufacturing from a c rating to a b- rating in a research report on Tuesday, August 1st. ValuEngine raised shares of Modine Manufacturing from a hold rating to a buy rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Modine Manufacturing from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Thursday, June 1st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $17.00.

Modine Manufacturing (NYSE MOD) traded down 0.32% during midday trading on Friday, reaching $15.55. 226,367 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $16.46 and its 200 day moving average is $13.74. Modine Manufacturing has a 52 week low of $9.25 and a 52 week high of $17.85. 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 announced its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.09. The firm had revenue of $515.50 million for the quarter, compared to analysts’ expectations of $482.70 million. Modine Manufacturing had a net margin of 1.35% and a return on equity of 11.16%. Modine Manufacturing’s revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. On average, analysts expect that Modine Manufacturing will post $1.41 EPS for the current fiscal year.

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In other news, VP Scott D. Wollenberg sold 5,736 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.42% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in Modine Manufacturing during the second quarter worth approximately $518,000. Susquehanna International Group LLP boosted its position in Modine Manufacturing by 1,385.6% in the second quarter. Susquehanna International Group LLP now owns 159,419 shares of the auto parts company’s stock worth $2,638,000 after buying an additional 171,819 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Modine Manufacturing by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 38,752 shares of the auto parts company’s stock worth $641,000 after buying an additional 1,414 shares during the last quarter. KLCM Advisors Inc. boosted its position in Modine Manufacturing by 0.5% in the second quarter. KLCM Advisors Inc. now owns 767,205 shares of the auto parts company’s stock worth $12,697,000 after buying an additional 4,150 shares during the last quarter. Finally, State Street Corp boosted its position in Modine Manufacturing by 4.8% in the second quarter. State Street Corp now owns 903,139 shares of the auto parts company’s stock worth $14,942,000 after buying an additional 41,592 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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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