Zacks: Analysts Set $12.75 Target Price for Modine Manufacturing Co. (NYSE:MOD)

Shares of Modine Manufacturing Co. (NYSE:MOD) have received a consensus broker rating score of 2.00 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Modine Manufacturing’s rating score has declined by 100% from three months ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 12-month consensus price objective of $12.75 for the company and are anticipating that the company will post $0.41 EPS for the current quarter, according to Zacks. Zacks has also assigned Modine Manufacturing an industry rank of 161 out of 255 based on the ratings given to its competitors.

MOD has been the topic of a number of recent research reports. TheStreet lowered Modine Manufacturing from a “b-” rating to a “c” rating in a report on Friday, September 20th. ValuEngine upgraded Modine Manufacturing from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Dougherty & Co lowered Modine Manufacturing from a “buy” rating to a “neutral” rating in a report on Friday. DA Davidson restated a “neutral” rating on shares of Modine Manufacturing in a report on Wednesday, September 11th. Finally, Zacks Investment Research lowered Modine Manufacturing from a “hold” rating to a “sell” rating in a report on Friday, October 18th.

Modine Manufacturing stock traded down $4.83 during mid-day trading on Tuesday, reaching $7.02. The stock had a trading volume of 2,414,861 shares, compared to its average volume of 239,574. Modine Manufacturing has a fifty-two week low of $6.82 and a fifty-two week high of $16.67. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.78 and a current ratio of 1.17. The stock’s 50-day simple moving average is $10.89 and its 200-day simple moving average is $12.41. The firm has a market capitalization of $599.32 million, a PE ratio of 4.47, a price-to-earnings-growth ratio of 0.87 and a beta of 1.99.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Thursday, November 7th. The auto parts company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.12). Modine Manufacturing had a net margin of 3.25% and a return on equity of 14.19%. The company had revenue of $500.20 million during the quarter, compared to the consensus estimate of $514.27 million. During the same quarter in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, research analysts forecast that Modine Manufacturing will post 1.36 earnings per share for the current fiscal year.

In related news, insider Hanna Julian 500,000 shares of the business’s stock in a transaction on Friday, October 11th. Company insiders own 5.01% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new stake in Modine Manufacturing during the second quarter worth $31,000. A.R.T. Advisors LLC bought a new stake in Modine Manufacturing during the second quarter worth $215,000. Aperio Group LLC lifted its holdings in Modine Manufacturing by 9.1% during the second quarter. Aperio Group LLC now owns 16,068 shares of the auto parts company’s stock worth $230,000 after acquiring an additional 1,340 shares during the period. Stone Ridge Asset Management LLC lifted its holdings in Modine Manufacturing by 7.2% during the second quarter. Stone Ridge Asset Management LLC now owns 17,807 shares of the auto parts company’s stock worth $255,000 after acquiring an additional 1,200 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Modine Manufacturing during the second quarter worth $267,000. Institutional investors and hedge funds own 87.14% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications primarily in the United States. The company operates through Americas, Europe, Asia, Commercial and Industrial Solutions, and Building HVAC segments.

See Also: How can you know how many shares are floating?

Get a free copy of the Zacks research report on Modine Manufacturing (MOD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Modine Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Modine Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.