Modine Manufacturing’s (MOD) “Overweight” Rating Reiterated at KeyCorp

KeyCorp reissued their overweight rating on shares of Modine Manufacturing (NYSE:MOD) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. They currently have a $280.00 target price on the auto parts company’s stock.

A number of other equities research analysts have also recently commented on MOD. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Oppenheimer lifted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. B. Riley Financial reissued a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Finally, DA Davidson restated a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average price target of $320.14.

Modine Manufacturing Price Performance

Shares of MOD opened at $194.54 on Wednesday. Modine Manufacturing has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The firm’s 50-day simple moving average is $212.71 and its two-hundred day simple moving average is $234.22. The stock has a market cap of $10.33 billion, a PE ratio of 73.14, a price-to-earnings-growth ratio of 0.61 and a beta of 1.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same period last year, the business earned $0.95 earnings per share. The business’s revenue was up 28.0% on a year-over-year basis. Analysts anticipate that Modine Manufacturing will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, VP Brian Agen sold 38,282 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric McGinnis sold 1,020 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 54,302 shares of company stock valued at $15,928,759. 1.92% of the stock is owned by company insiders.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOD. V Square Quantitative Management LLC bought a new position in Modine Manufacturing in the first quarter worth approximately $25,000. Rakuten Securities Inc. bought a new stake in shares of Modine Manufacturing during the 2nd quarter valued at $40,000. PenderFund Capital Management Ltd. bought a new stake in shares of Modine Manufacturing during the 2nd quarter valued at $42,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Modine Manufacturing in the 4th quarter worth $25,000. Finally, Vega Investment Solutions purchased a new stake in shares of Modine Manufacturing in the 2nd quarter worth $52,000. 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.