Modine Manufacturing CompanyNYSE
Modine: Well Prepared For Any Cycle
Darspal S Mann
Darspal S Mann
Tue, Oct. 11, 9:33 AM
- The German Bundesrat has fired a warning shot across the automobile industry that is yet another indication that seismic changes could be coming down the road.
- In a vote intended to pressure the EU, the Bundesrat approved a measure to ban gas and diesel vehicles by 2030. The Bundesrat doesn't set policy across Europe, but is considered influential.
- Naturally, the fact that the push is coming from the home of Mercedes, BMW, and Volkswagen also adds a degree of intrigue to the news and the underlying electrification push out of the trio.
- Wall Street analysts with their 1-year price target mindset haven't weighed in on the development, but there's plenty of discussion on Seeking Alpha about the implications.
- Previously: Germany says nein to internal combustion engines (Oct. 10)
- Related auto parts stocks: ACW, ALSN, ALV, AXL, BWA, CAAS, CPS, DAN, DLPH, DORM, FDML, FENX, GNTX, JCI, LDL, LEA, LKQ, MBLY, MLR, MNRO, MOD, MPAA, MPG, MTOR, PLOW, SMP, SRI, STRT, SUP, STRT, TEN, THRM, TEN, TOWR, UFAB, VC, VOXX, WBC, ZX.
Wed, Aug. 31, 10:26 AM
- U.S. auto sales are expected to show a decline of 2% to 5% for August amid a dialing back of discounting activity, according to the range of forecasts from Kelley Blue Book, Edmunds, J.D. Power, and LMC Automotive. General Motors is poised to report a loss of market share as its plan to cut out fleet sales impacts volume.
- Bloomberg estimates the seasonally adjusted selling rate for the month will be 17.2M, down from 17.9M last month.
- The sales dip isn't necessarily a bottom line drag for the sector due to reduced discounting and the increasing mix of higher-profit SUVs and trucks. But higher profit hasn't lifted automaker stocks this year, with the group having trouble gaining traction and trading with low forward PE multiples (GM 5.5, Ford 6.8, Honda 10.5, Toyota 10.9).
- Auto parts stocks (LEA, TEN, BWA, DAN, MPAA, CPS, DLPH, AXL, TOWR, ACW, FENX, MTOR, THRM, SMP, ALV, MOD, SRI) will be on watch tomorrow when the reports roll in as the sector frequently sees some extra volatility on days U.S. auto sales are disclosed.
- Related stocks: GM, FCAU, F, TM, HMC, OTCPK:NSANY, OTCPK:VLKAY, OTCPK:BMWYY, OTCPK:DDAIF, TSLA, OTCPK:MZDAY, TSLA, OTC:HYMLF, OTCPK:FUJHY, RACE.
Tue, Aug. 2, 5:08 PM
Mon, Aug. 1, 5:35 PM
- ACLS, AFG, AGII, AIG, AMED, AMSG, AR, ARC, AVD, BEAT, BECN, BGFV, BPI, BRKR, CALD, CALX, CAR, CENT, CERN, CHEF, CHUY, CLI, CLUB, CRAY, CSU, CXO, CZR, DEI, DVN, DXCM, EA, ELGX, ENLK, ENPH, ESE, ESIO, EXAM, FANG, FARO, FGL, FISV, FIT, FMC, FMI, FNGN, FORM, FTAI, FTV, FUEL, GHDX, GLUU, GNW, GUID, HBI, HCI, HIW, HRZN, INN, JIVE, KAR, KFRC, LOCK, LQ, MATX, MDU, MOD, MRC, MRCY, MXWL, NBR, NEWR, NFX, NOVT, NPO, NYMT, OCLR, OESX, OHI, OKE, OKS, OMI, ORA, PAA, PAGP, PAYC, PBPB, PLT, PRMW, PRO, PZZA, QRVO, QUOT, REXX, RGR, RIGL, RLOC, RPAI, RPXC, RUBI, SF, SGY, SLCA, SM, STAG, SUPN, SYRG, TMH, TNAV, TPC, TRQ, TRUP, TSRA, TX, VNOM, VRSK, VTAE, WMGI, WR, WTR, XXIA, Y, ZAGG, ZEN
Thu, May 26, 12:00 PM
Wed, May 25, 5:07 PM
Tue, May 24, 5:35 PM
Thu, Mar. 24, 12:58 PM
- Modine Manufacturing (MOD +6.7%) is upgraded to Buy from Neutral with a $12 price target at Seaport Global Securities.
- The firm says much of its optimism revolves around MOD's SDG program, which targets 7%-8% operating margins by the end of FY 2018 vs. 4%-5% in prior years (FY 2017 begins next week) and $100M of acquired revenue intended to diversify away from core vehicular markets, among other goals.
- Seaport sees several paths for MOD to beat its new expectations, even if end markets deteriorate, and the valuation does not need to match the peer group for substantial upside in the share price.
Tue, Feb. 2, 4:21 PM
- Modine Manufacturing (NYSE:MOD): FQ3 EPS of $0.22 misses by $0.03.
- Revenue of $328.7M (-9.6% Y/Y) misses by $20.05M.
Mon, Feb. 1, 5:35 PM
Wed, Jan. 13, 12:44 PM
- Auto parts stocks are sliding with a number of companies issuing guidance below expectations. Some of the soft reads are being delivered at the Deutsche Bank 2015 Global Auto Industry Conference in progress.
- Anxiety has increased over the last week that the U.S. auto market may be at a volume peak.
- Decliners include American Axle & Manufacturing (AXL -15%), Tower International (TOWR -7%), Tenneco (TEN -6.8%), Modine Manufacturing (MOD -4.9%), Lear Corp. (LEA -3.7%), and Visteon (VC -3.8%).
Tue, Jan. 5, 11:31 AM
- Many auto parts stocks are trailing off after key manufacturers (Ford, GM, Toyota, Fit Chrysler) miss forecasts with their December U.S. sales reports. The sector bounced last month when the rosy predictions first started piling in.
- Weakness in China this week may be impacting sentiment on certain auto parts names as well.
- Decliners include Modine Manufacturing (MOD -4.9%), Federal-Mogul (FDML -5.1%), Stoneridge (SRI -3.8%), American Axle & Manufacturing (AXL -3.1%), Delphi Automotive (DLPH -2.3%), Autoliv (ALV -2.3%), Meritor (MTOR -3.4%), Gentherm (THRM -2.3%), BorgWarner (BWA -1.8%), and Lear (LEA -2%).
Oct. 31, 2015, 12:51 PM
- The European Automobile Manufacturers Association issued a statement this week in which it forecasts that a "substantial number" of diesel models will have to be phased out earlier than anticipated.
- The harsh assessment was mirrored by several heavyweight CEOs at the Tokyo Motor Show. The major focus of the event has been next-gen concepts like hydrogen-powered cars and self-driving features, while execs such as Nissan's Carlos Ghosn have marginalized the future of diesel.
- Many automobile industry insiders have noted that diesel was in decline due to the focus on emissions even before Volkswagen (OTCQX:VLKAY) rocked the industry with a cheating scandal.
- The mix of technology, EV, hydrogen, and powertrain changes have kept analysts buzzing over the proper valuations to assign to major players. A reset of demand expectations in China also factors in significantly.
- Automobile industry stocks: DAN, BWA, MTOR, TRW, FDML, DLPH,GNTX, SMP, AXL, MPAA, ALV, MOD, DLPH, VC, THRM, WPRT, GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, TTM, TSLA, THRM, BWA, JCI, TEN, CPS, LDL, TOWR, OTCPK:PEUGF, OTC:RNSDF, OTCPK:RNLSY.
- Previously: Hydrogen and self-driving cars the talk at the Toyota Motor Show (Oct. 29)
Oct. 29, 2015, 5:21 PM
- Modine Manufacturing (NYSE:MOD): FQ2 EPS of $0.04 misses by $0.05.
- Revenue of $334M (-11.5% Y/Y) misses by $11.91M.
Oct. 28, 2015, 5:35 PM
- ARAY, ARI, ATEN, ATR, AUY, AXTI, AZPN, BCOR, BCOV, BGG, BIDU, BMRN, BVN, BXP, CALX, CATM, CENX, CLW, COLM, CPSI, CPT, CRAY, CTRL, CXP, DCT, DECK, DGI, DGII, DLR, EA, ECOL, EHTH, EMN, EPAY, ESS, EXPE, EXTR, EYES, FE, FLDM, FLR, FLS, FRGI, FSLR, FWM, GB, GNW, HWAY, IM, IMMR, IMPV, ISBC, IXYS, KAMN, KRG, LC, LEG, LNKD, LSCC, MEP, MOBL, MOD, MOH, MTSN, MXWL, NANO, NBIX, NR, NSR, NUS, OIS, OMCL, ON, OSIS, OUTR, PCCC, PDFS, PRMW, PSMT, QTM, RGA, RKUS, RSG, SAAS, SAM, SBUX, SCTY, SEM, SGEN, SHO, TMST, TNAV, TNDM, TRMB, TSRO, TSYS, TUES, VR, WRI, WU, WWWW, YRCW
Oct. 1, 2015, 3:39 PM
- U.S. auto sales sizzled in September as the combination of low gas prices and subdued auto loan rates motivated consumers to make a move. The monthly tally was influence a bit by an extra selling day and a comparison to last year when part of the Labor Day weekend was in August.
- The Detroit Three led the way with strong sales volume and solid pricing in a development that takes some of the sting off the Volkswagen scandal which rocked the sector.
- The industry-wide run rate for the month is estimated to be 18.7M annual sale to match the highest level of activity since 2005.
- Fiat Chrysler Automobiles (FCAU +1.9%) is the only major automaker putting in a strong gain on the day, although most automaker stocks are ahead of the DJIA.
- A large number of auto parts stocks are also beating market averages on enthusiasm over the strong numbers. Lydall (NYSE:LDL), Delphi Automotive (NYSE:DLPH), Modine Manufacturing (NYSE:MOD), and Tenneco (NYSE:TEN) are leading the mini-charge.