Modine Manufacturing (NYSE:MOD) Coverage Initiated at William Blair

Investment analysts at William Blair started coverage on shares of Modine Manufacturing (NYSE:MOD) in a report released on Monday, Marketbeat.com reports. The firm set an “outperform” rating on the auto parts company’s stock.

Several other research firms also recently issued reports on MOD. DA Davidson upped their price objective on shares of Modine Manufacturing from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Oppenheimer increased their target price on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $125.00 target price on shares of Modine Manufacturing in a report on Thursday, June 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.33.

Modine Manufacturing Stock Down 3.3 %

Modine Manufacturing stock opened at $98.94 on Monday. Modine Manufacturing has a twelve month low of $35.93 and a twelve month high of $120.11. The stock’s fifty day simple moving average is $101.10 and its 200-day simple moving average is $91.63. 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 firm has a market capitalization of $5.18 billion, a P/E ratio of 32.65, a P/E/G ratio of 0.83 and a beta of 2.27.

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

Institutional Trading of Modine Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of MOD. Hennessy Advisors Inc. grew its stake in shares of Modine Manufacturing by 20.4% during 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. Vanguard Group Inc. raised its stake in shares of Modine Manufacturing by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock valued at $139,853,000 after purchasing an additional 95,255 shares in the last quarter. 1492 Capital Management LLC bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $1,284,000. Janney Montgomery Scott LLC bought a new stake in shares of Modine Manufacturing during the 1st quarter valued at about $833,000. Finally, State Board of Administration of Florida Retirement System grew its position 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 buying an additional 48,150 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

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.