Modine Manufacturing’s (MOD) “Buy” Rating Reaffirmed at DA Davidson

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $330.00 price target on the auto parts company’s stock. DA Davidson’s target price points to a potential upside of 13.72% from the stock’s previous close.

A number of other brokerages also recently weighed in on MOD. KeyCorp upped their target price on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Oppenheimer upped their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. UBS Group boosted their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Price Performance

Shares of MOD traded down $7.19 during midday trading on Monday, reaching $290.18. The stock had a trading volume of 112,266 shares, compared to its average volume of 1,288,055. Modine Manufacturing has a 52 week low of $86.48 and a 52 week high of $323.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The firm’s 50 day moving average price is $267.17 and its 200-day moving average price is $210.11. The company has a market capitalization of $15.33 billion, a P/E ratio of 129.21, a P/E/G ratio of 0.96 and a beta of 1.65.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million during the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the business posted $1.12 earnings per share. On average, analysts forecast that Modine Manufacturing will post 7.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

A number of large investors have recently bought and sold shares of MOD. Optiver Holding B.V. boosted its holdings in Modine Manufacturing by 19.7% in the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after purchasing an additional 39 shares during the period. World Investment Advisors increased its position in shares of Modine Manufacturing by 4.1% in the first quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock worth $356,000 after purchasing an additional 65 shares during the period. Xponance LLC raised its stake in Modine Manufacturing by 1.7% in the fourth quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock valued at $591,000 after purchasing an additional 75 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Modine Manufacturing by 3.4% during the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after purchasing an additional 103 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Modine Manufacturing by 6.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after buying an additional 103 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Company Profile

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.