The week started off on a strong note, which, according to T. Rowe Price traders, seemed to be due to investors trying to capitalize on recent declines in the tech sector as well as short covering. The best-performing concepts are AI concept, softbank holdings and tesla concept.
Considering the different perceptions of the stock, this time TigerPicks chose $Modine Manufacturing(MOD)$ to have a fundamental highlight to help users understand it better.
$Modine Manufacturing(MOD)$
Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Modine is one of those stocks right now.
Modine belongs to the Automotive - Original Equipment industry, a group that includes 60 individual stocks This group has lost an average of 0.2% so far this year, so MOD is performing better in this area.
Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to Modine as they could maintain their solid performance.
Jennison Associates LLC Acquires 493 Shares of Modine Manufacturing
Jennison Associates LLC lifted its holdings in shares of Modine Manufacturing by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC.
The fund owned 15,233 shares of the auto parts company’s stock after purchasing an additional 493 shares during the period. Jennison Associates LLC’s holdings in Modine Manufacturing were worth $909,000 at the end of the most recent reporting period.
Insider Transactions at Modine Manufacturing
In other news, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the sale, the chief financial officer now owns 194,587 shares of the company’s stock, valued at $17,577,043.71.
The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Brian Jon Agen sold 16,799 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $95.64, for a total transaction of $1,606,656.36. Following the sale, the vice president now owns 102,409 shares of the company’s stock, valued at $9,794,396.76.
The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael B. Lucareli sold 82,312 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.33, for a total value of $7,435,242.96. Following the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71.
The disclosure for this sale can be found here. Insiders have sold a total of 113,336 shares of company stock valued at $10,330,115 over the last 90 days. 2.86% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities analysts recently issued reports on MOD shares. DA Davidson reiterated a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a report on Tuesday, February 27th.
Oppenheimer started coverage on Modine Manufacturing in a report on Tuesday, March 19th. They issued an “outperform” rating and a $105.00 price target on the stock.
Finally, B. Riley reiterated a “buy” rating and issued a $98.00 price target (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th.
One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.
Modine Manufacturing Trading Up 4.2 %
NYSE:MOD opened at $96.74 on Friday.
Modine Manufacturing has a 1-year low of $19.41 and a 1-year high of $106.01. The business’s 50-day moving average price is $90.10 and its two-hundred day moving average price is $67.89. The company has a current ratio of 1.93, a quick ratio of 1.21 and a debt-to-equity ratio of 0.43.
The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 0.74 and a beta of 2.29.
Modine Manufacturing last released its earnings results on Tuesday, January 30th.
The auto parts company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.17. Modine Manufacturing had a return on equity of 25.28% and a net margin of 9.31%.
The firm had revenue of $561.40 million for the quarter, compared to analyst estimates of $594.84 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share.
The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts expect that Modine Manufacturing will post 3.27 earnings per share for the current year.
Stock Price Forecast:
MOD currently has a forward P/E ratio of 23.07, while RACE has a forward P/E of 51.10. We also note that MOD has a PEG ratio of 0.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate.
Another notable valuation metric for MOD is its P/B ratio of 6.32. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison,
MOD is currently sporting an improving earnings outlook. And, based on the above valuation metrics, we feel that MOD is likely the superior value option right now.
Resource:
https://www.defenseworld.net/2024/04/28/jennison-associates-llc-acquires-493-shares-of-modine-manufacturing-nysemod.html
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Comments
however, at the time of writing, the stock has fallen to more than -3%.
hope this is temporary and it will trend up...