Modine Manufacturing (NYSE:MOD) PT Raised to $155.00

Modine Manufacturing (NYSE:MOD) had its price objective lifted by DA Davidson from $140.00 to $155.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the auto parts company’s stock. DA Davidson’s target price would suggest a potential upside of 21.12% from the company’s current price.

MOD has been the subject of a number of other research reports. Oppenheimer reaffirmed an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a report on Thursday, September 12th. B. Riley raised their target price 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, William Blair initiated coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Modine Manufacturing Stock Up 0.6 %

Shares of MOD stock traded up $0.81 during mid-day trading on Tuesday, hitting $127.97. 100,532 shares of the stock traded hands, compared to its average volume of 888,496. The stock’s fifty day moving average is $109.28 and its two-hundred day moving average is $101.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $131.28. The stock has a market cap of $6.70 billion, a P/E ratio of 42.23, a P/E/G ratio of 0.83 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.18. The firm had revenue of $661.50 million during the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. Equities analysts predict that Modine Manufacturing will post 3.85 EPS for the current year.

Insider Activity

In related news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOD. SG Americas Securities LLC grew its holdings in shares of Modine Manufacturing by 311.1% during the 2nd quarter. SG Americas Securities LLC now owns 32,128 shares of the auto parts company’s stock worth $3,219,000 after purchasing an additional 24,312 shares during the period. Hennessy Advisors Inc. increased its position in shares of Modine Manufacturing by 20.4% in the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after acquiring an additional 121,200 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Modine Manufacturing in the 1st quarter valued at $833,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Modine Manufacturing by 327.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,841 shares of the auto parts company’s stock valued at $5,982,000 after acquiring an additional 48,150 shares in the last quarter. Finally, Oliver Luxxe Assets LLC purchased a new stake in Modine Manufacturing during the 1st quarter worth $2,775,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.