Analysts’ Weekly Ratings Changes for Modine Manufacturing (MOD)

Modine Manufacturing (NYSE: MOD) recently received a number of ratings updates from brokerages and research firms:

• 8/1/2024 – Modine Manufacturing had its price target raised by analysts at Oppenheimer Holdings Inc. from $114.00 to $135.00. They now have an “outperform” rating on the stock.
• 8/1/2024 – Modine Manufacturing had its price target raised by analysts at DA Davidson from $120.00 to $140.00. They now have a “buy” rating on the stock.
• 8/1/2024 – Modine Manufacturing had its price target raised by analysts at B. Riley from $125.00 to $140.00. They now have a “buy” rating on the stock.
• 7/29/2024 – Modine Manufacturing is now covered by analysts at William Blair. They set an “outperform” rating on the stock.
• 6/27/2024 – Modine Manufacturing had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $125.00 price target on the stock.

Modine Manufacturing Trading Up 0.3 %

NYSE MOD traded up $0.34 during trading hours on Monday, hitting $109.72. 212,684 shares of the company’s stock were exchanged, compared to its average volume of 930,734. The firm has a market capitalization of $5.75 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 0.86 and a beta of 2.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.80. The business’s 50 day moving average is $102.74 and its 200-day moving average is $95.13. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $123.92.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.86 by $0.18. The company had revenue of $661.50 million during the quarter, compared to analyst estimates of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, analysts anticipate that Modine Manufacturing will post 3.81 EPS for the current fiscal year.

Insider Activity

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the firm’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 transaction of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MOD. Vanguard Group Inc. lifted its holdings in Modine Manufacturing by 27.3% during the 1st 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 last quarter. Hennessy Advisors Inc. bought a new position in Modine Manufacturing during the 4th quarter worth approximately $35,414,000. Capital International Investors lifted its holdings in shares of Modine Manufacturing by 40.6% in the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after purchasing an additional 411,946 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Modine Manufacturing by 32.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after purchasing an additional 272,174 shares during the last quarter. Finally, Emerald Advisers LLC bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $26,064,000. Institutional investors own 95.23% of the company’s stock.

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.