Modine Manufacturing (NYSE:MOD) Coverage Initiated at Roth Mkm

Equities research analysts at Roth Mkm initiated coverage on shares of Modine Manufacturing (NYSE:MOD) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $263.00 price target on the auto parts company’s stock. Roth Mkm’s price target points to a potential upside of 21.08% from the company’s previous close.

Several other research firms have also recently weighed in on MOD. Oppenheimer upped their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. DA Davidson boosted their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. UBS Group started coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target on the stock. Finally, Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $223.20.

Modine Manufacturing Trading Up 0.3%

Shares of MOD opened at $217.22 on Wednesday. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $235.02. The stock has a market cap of $11.45 billion, a PE ratio of 120.68, a P/E/G ratio of 1.32 and a beta of 1.71. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $157.00 and its 200-day moving average price is $150.59.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. Modine Manufacturing’s revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. On average, equities analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Insider Activity

In other news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the completion of the sale, the chief executive officer directly owned 238,312 shares in the company, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,071 shares of company stock valued at $5,484,685 over the last 90 days. 2.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new stake in Modine Manufacturing in the fourth quarter worth about $25,000. Spire Wealth Management bought a new position in shares of Modine Manufacturing in the 4th quarter worth approximately $27,000. First Horizon Corp purchased a new position in shares of Modine Manufacturing in the 3rd quarter valued at approximately $38,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing during the third quarter valued at approximately $39,000. Finally, Parkside Financial Bank & Trust grew its stake in Modine Manufacturing by 2,025.0% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 405 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.