Modine Manufacturing (NYSE:MOD) Given New $144.00 Price Target at Oppenheimer

Modine Manufacturing (NYSE:MOD) had its target price hoisted by Oppenheimer from $135.00 to $144.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

MOD has been the subject of several other research reports. B. Riley boosted their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a buy rating in a report on Thursday, August 1st. William Blair began coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They set an outperform rating on the stock. Finally, DA Davidson lifted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $146.33.

Modine Manufacturing Price Performance

Shares of NYSE MOD opened at $133.11 on Monday. The firm has a market cap of $6.97 billion, a PE ratio of 43.93, a PEG ratio of 1.02 and a beta of 2.22. The firm has a fifty day moving average of $117.00 and a 200 day moving average of $105.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. Modine Manufacturing has a one year low of $38.50 and a one year high of $138.99.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.86 by $0.18. The company had revenue of $661.50 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.85 EPS. As a group, research analysts predict that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MOD. Vanguard Group Inc. boosted its position in shares of Modine Manufacturing by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,070,556 shares of the auto parts company’s stock valued at $183,312,000 after acquiring an additional 13,663 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Modine Manufacturing in the 1st quarter valued at about $101,000. Mountain Pacific Investment Advisers Inc. ID purchased a new stake in Modine Manufacturing in the 1st quarter valued at about $1,904,000. Hennessy Advisors Inc. raised its holdings in Modine Manufacturing by 20.4% in the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after buying an additional 121,200 shares during the period. Finally, Oliver Luxxe Assets LLC purchased a new stake in Modine Manufacturing in the 1st quarter valued at about $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.