Modine Manufacturing (NYSE:MOD) Lowered to Neutral at Dougherty & Co

Dougherty & Co lowered shares of Modine Manufacturing (NYSE:MOD) from a buy rating to a neutral rating in a report issued on Friday, Benzinga’s Daily Ratings Newsletter reports.

Other research analysts also recently issued research reports about the company. DA Davidson reissued a neutral rating on shares of Modine Manufacturing in a report on Wednesday, September 11th. Zacks Investment Research downgraded Modine Manufacturing from a hold rating to a sell rating in a report on Friday, October 18th. TheStreet cut Modine Manufacturing from a b- rating to a c rating in a research note on Friday, September 20th. Finally, ValuEngine upgraded Modine Manufacturing from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $13.83.

MOD traded down $4.83 on Friday, reaching $7.02. The company’s stock had a trading volume of 2,414,861 shares, compared to its average volume of 239,574. The stock has a market cap of $599.32 million, a price-to-earnings ratio of 4.47, a price-to-earnings-growth ratio of 0.87 and a beta of 1.99. Modine Manufacturing has a 1 year low of $6.82 and a 1 year high of $16.67. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 0.78. The business’s 50 day moving average is $10.89 and its 200 day moving average is $12.41.

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Consulate Inc. raised its stake in Modine Manufacturing by 0.4% during the second quarter. Financial Consulate Inc. now owns 243,061 shares of the auto parts company’s stock valued at $3,478,000 after buying an additional 986 shares in the last quarter. Stone Ridge Asset Management LLC raised its position in shares of Modine Manufacturing by 7.2% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 17,807 shares of the auto parts company’s stock worth $255,000 after purchasing an additional 1,200 shares during the period. Aperio Group LLC raised its position in shares of Modine Manufacturing by 9.1% during the 2nd quarter. Aperio Group LLC now owns 16,068 shares of the auto parts company’s stock worth $230,000 after purchasing an additional 1,340 shares during the period. Virginia Retirement Systems ET AL raised its position in shares of Modine Manufacturing by 4.5% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 32,700 shares of the auto parts company’s stock worth $468,000 after purchasing an additional 1,400 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Modine Manufacturing by 6.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 24,536 shares of the auto parts company’s stock worth $279,000 after purchasing an additional 1,442 shares during the period. Hedge funds and other institutional investors own 87.14% 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- 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.

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