Modine Manufacturing (NYSE:MOD) Price Target Raised to $155.00

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

Other equities research analysts have also issued reports about the company. William Blair started coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating on the stock. Oppenheimer reissued an “outperform” rating and issued a $135.00 price target on shares of Modine Manufacturing in a research note on Thursday, September 12th. Finally, B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Modine Manufacturing Stock Up 0.6 %

NYSE MOD traded up $0.81 on Tuesday, reaching $127.97. The stock had a trading volume of 100,532 shares, compared to its average volume of 888,496. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $131.28. The business has a 50 day moving average price of $109.28 and a 200 day moving average price of $101.15. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 42.23, a P/E/G ratio of 0.83 and a beta of 2.22. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating 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 return on equity of 24.92% and a net margin of 6.70%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, analysts forecast that Modine Manufacturing will post 3.85 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the sale, 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 the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Several large investors have recently modified their holdings of MOD. SG Americas Securities LLC raised its position in Modine Manufacturing by 311.1% in 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. boosted its holdings in 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 purchasing an additional 121,200 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Modine Manufacturing in the first quarter worth $833,000. State Board of Administration of Florida Retirement System raised its position in Modine Manufacturing by 327.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 62,841 shares of the auto parts company’s stock worth $5,982,000 after acquiring an additional 48,150 shares during the period. Finally, Oliver Luxxe Assets LLC bought a new position in shares of Modine Manufacturing during the 1st quarter valued at approximately $2,775,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.