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

Modine Manufacturing (NYSE:MOD) had its price objective lifted by equities research analysts at DA Davidson from $140.00 to $155.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the auto parts company’s stock. DA Davidson’s price target indicates a potential upside of 15.91% from the company’s current price.

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

Modine Manufacturing Stock Up 0.0 %

Shares of NYSE MOD opened at $133.72 on Tuesday. The business has a 50-day moving average of $109.64 and a two-hundred day moving average of $101.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 0.97 and a beta of 2.22. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $138.99.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. The business had revenue of $661.50 million for 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 business’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 earnings per share. On average, analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Modine Manufacturing by 27.3% in the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares during the period. Capital International Investors boosted its position in shares of Modine Manufacturing by 40.6% during the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after purchasing an additional 411,946 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Modine Manufacturing by 32.8% in the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after buying an additional 272,174 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Modine Manufacturing by 20.4% during the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after purchasing an additional 121,200 shares during the last quarter. Finally, Fred Alger Management LLC increased its position in shares of Modine Manufacturing by 5.1% in the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock worth $37,054,000 after acquiring an additional 17,889 shares in the last quarter. 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.