Modine Manufacturing (NYSE:MOD) Stock Keeps Buy Rating at DA Davidson

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research report issued on Tuesday, Benzinga reports. They presently have a $330.00 target price on the auto parts company’s stock. DA Davidson‘s price objective points to a potential upside of 140.42% from the company’s previous close.

A number of other research firms have also weighed in on MOD. B. Riley Financial reiterated a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Robert W. Baird started coverage on shares of Modine Manufacturing in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $300.00 price objective for the company. 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, Cantor Fitzgerald started coverage on shares of Modine Manufacturing in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $275.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average target price of $305.67.

Modine Manufacturing Stock Performance

NYSE MOD traded up $6.99 during trading on Tuesday, hitting $137.26. 552,332 shares of the company’s stock traded hands, compared to its average volume of 1,385,159. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 0.47 and a beta of 1.71. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The business has a 50 day moving average of $181.22 and a 200-day moving average of $214.49.

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, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same period in the previous year, the business earned $0.95 EPS. Modine Manufacturing’s revenue was up 28.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Modine Manufacturing will post 7.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOD. Optiver Holding B.V. increased its position in shares of Modine Manufacturing by 19.7% in the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after purchasing an additional 39 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Modine Manufacturing by 0.4% during the second quarter. Arizona State Retirement System now owns 13,823 shares of the auto parts company’s stock worth $3,691,000 after purchasing an additional 52 shares during the last quarter. World Investment Advisors lifted its position in shares of Modine Manufacturing by 4.1% during 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 last quarter. Signaturefd LLC grew its stake in Modine Manufacturing by 11.6% in the third quarter. Signaturefd LLC now owns 848 shares of the auto parts company’s stock worth $159,000 after purchasing an additional 88 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Modine Manufacturing by 14.9% in the third quarter. GAMMA Investing LLC now owns 785 shares of the auto parts company’s stock worth $147,000 after purchasing an additional 102 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other 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.