DA Davidson Reaffirms “Buy” Rating for Modine Manufacturing (NYSE:MOD)

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $330.00 price target on the auto parts company’s stock. DA Davidson‘s price target points to a potential upside of 139.24% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Cantor Fitzgerald initiated coverage on shares of Modine Manufacturing in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $275.00 price target on the stock. Robert W. Baird initiated coverage on shares of Modine Manufacturing in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Zacks Research lowered shares of Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Finally, B. Riley Financial restated a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.67.

Modine Manufacturing Stock Up 5.9%

Shares of MOD stock traded up $7.67 during trading hours on Tuesday, hitting $137.94. 341,617 shares of the company were exchanged, compared to its average volume of 1,383,874. 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 has a one year low of $111.18 and a one year high of $323.25. The business’s 50-day simple moving average is $181.22 and its two-hundred day simple moving average is $214.49. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 51.82, a P/E/G ratio of 0.47 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.26. The firm had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. Modine Manufacturing’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Sell-side analysts predict that Modine Manufacturing will post 7.02 EPS for the current fiscal year.

Institutional Trading of Modine Manufacturing

A number of large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing in the 1st quarter worth approximately $25,000. Rakuten Securities Inc. bought a new stake in shares of Modine Manufacturing during the second quarter worth approximately $40,000. PenderFund Capital Management Ltd. acquired a new position in Modine Manufacturing during the second quarter valued at approximately $42,000. Optiver Holding B.V. boosted its holdings in shares of Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after buying an additional 39 shares during the period. Finally, Vega Investment Solutions acquired a new position in Modine Manufacturing during the second quarter worth $52,000. 95.23% of the stock is currently owned by institutional investors.

About Modine Manufacturing

Modine Manufacturing Company (NYSE: MOD) is a diversified thermal management company that develops and manufactures solutions for managing heat in vehicles, equipment, buildings and industrial systems. Its products are designed to improve efficiency, reliability and performance across a range of applications.

The company serves the automotive, commercial vehicle, off-highway, power generation, data center, heating, ventilation, air conditioning and refrigeration markets. Its offerings include heat exchangers, radiators, charge air coolers, battery and power electronics cooling systems, liquid-cooling equipment, coils and other thermal management components and systems.

Founded in 1916 by Arthur B.