Modine Manufacturing (NYSE:MOD) Rating Reiterated by Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Modine Manufacturing (NYSE:MOD) in a research note published on Thursday morning, Benzinga reports. Oppenheimer currently has a $135.00 price target on the auto parts company’s stock.

A number of other equities analysts have also recently issued reports on MOD. William Blair assumed coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an outperform rating on the stock. B. Riley lifted their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a buy rating in a report on Thursday, August 1st. Finally, DA Davidson upped their target price on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a buy rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Modine Manufacturing presently has an average rating of Moderate Buy and an average target price of $138.33.

Modine Manufacturing Stock Up 0.2 %

Shares of NYSE MOD opened at $111.07 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The firm has a market cap of $5.82 billion, a PE ratio of 36.66, a P/E/G ratio of 0.83 and a beta of 2.22. The company’s fifty day simple moving average is $107.64 and its 200 day simple moving average is $99.82. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $123.92.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MOD. Sanctuary Advisors LLC bought a new stake in Modine Manufacturing in the second quarter worth about $1,382,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Modine Manufacturing during the 2nd quarter worth approximately $1,475,000. Cetera Investment Advisers raised its holdings in shares of Modine Manufacturing by 33.2% in the 2nd quarter. Cetera Investment Advisers now owns 25,856 shares of the auto parts company’s stock worth $2,591,000 after purchasing an additional 6,451 shares during the period. Truist Financial Corp lifted its stake in Modine Manufacturing by 12.0% in the second quarter. Truist Financial Corp now owns 34,457 shares of the auto parts company’s stock valued at $3,452,000 after purchasing an additional 3,683 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in Modine Manufacturing during the second quarter valued at $492,000. Hedge funds and other institutional investors own 95.23% 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. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.