Modine Manufacturing’s (MOD) “Buy” Rating Reaffirmed at B. Riley

B. Riley reissued their buy rating on shares of Modine Manufacturing (NYSE:MOD) in a research report report published on Thursday, Benzinga reports. They currently have a $125.00 target price on the auto parts company’s stock.

A number of other research firms have also commented on MOD. Oppenheimer raised their price objective on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, May 23rd. DA Davidson boosted their price objective on Modine Manufacturing from $110.00 to $120.00 and gave the stock a buy rating in a research note on Friday, May 24th.

Modine Manufacturing Stock Performance

MOD opened at $98.00 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $96.91 and its 200-day moving average is $83.43. The stock has a market cap of $5.13 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 0.77 and a beta of 2.26. Modine Manufacturing has a twelve month low of $31.38 and a twelve month high of $109.53.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. The business had revenue of $603.50 million for the quarter, compared to the consensus estimate of $605.44 million. During the same period in the previous year, the firm earned $0.67 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. On average, analysts predict that Modine Manufacturing will post 3.7 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. acquired a new position in shares of Modine Manufacturing in the 4th quarter worth $29,000. Strid Group LLC acquired a new stake in Modine Manufacturing during the 1st quarter worth about $33,000. Acadian Asset Management LLC purchased a new stake in Modine Manufacturing during the first quarter valued at about $37,000. Nisa Investment Advisors LLC boosted its holdings in shares of Modine Manufacturing by 51.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock worth $70,000 after buying an additional 400 shares during the period. Finally, Spire Wealth Management purchased a new position in shares of Modine Manufacturing in the first quarter worth approximately $79,000. Institutional investors and hedge funds 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.