DA Davidson Increases Modine Manufacturing (NYSE:MOD) Price Target to $140.00

Modine Manufacturing (NYSE:MOD) had its price objective lifted by DA Davidson from $120.00 to $140.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the auto parts company’s stock. DA Davidson’s price objective suggests a potential upside of 20.07% from the stock’s current price.

MOD has been the topic of a number of other reports. William Blair started coverage on Modine Manufacturing in a report on Monday. They set an “outperform” rating on the stock. B. Riley raised their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Oppenheimer raised their target price on Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $130.00.

Modine Manufacturing Stock Down 0.9 %

Modine Manufacturing stock traded down $1.06 during mid-day trading on Thursday, reaching $116.60. The stock had a trading volume of 200,006 shares, compared to its average volume of 939,262. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.64. Modine Manufacturing has a fifty-two week low of $37.34 and a fifty-two week high of $123.92. The stock’s 50-day simple moving average is $101.52 and its 200-day simple moving average is $91.81. The firm has a market capitalization of $6.11 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 0.79 and a beta of 2.27.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 25.57% and a net margin of 6.70%. The company had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same quarter last year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Modine Manufacturing will post 3.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise grew its holdings in shares of Modine Manufacturing by 9.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after acquiring an additional 104 shares during the period. Riverwater Partners LLC grew its holdings in shares of Modine Manufacturing by 0.6% during the 1st quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock worth $2,250,000 after acquiring an additional 152 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Modine Manufacturing by 0.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after acquiring an additional 155 shares during the period. Horizon Investment Services LLC grew its holdings in shares of Modine Manufacturing by 4.4% during the 1st quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock worth $434,000 after acquiring an additional 191 shares during the period. Finally, Ameritas Advisory Services LLC grew its holdings in shares of Modine Manufacturing by 2.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock worth $701,000 after acquiring an additional 200 shares during the period. Institutional investors own 95.23% of the company’s stock.

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.