Modine Manufacturing (NYSE:MOD) Stock Gets Price Target Cut from B. Riley Financial

Modine Manufacturing (NYSE:MOD) had its target price decreased by B. Riley Financial from $305.00 to $285.00 in a research note released on Thursday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the auto parts company’s stock.

Several other research analysts have also recently weighed in on MOD. Oppenheimer lowered their target price on Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday, October 2nd. DA Davidson restated a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a research report on Tuesday, October 27th. Zacks Research cut Modine Manufacturing from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, KeyCorp reiterated an “overweight” rating and set a $280.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.44.

Modine Manufacturing Stock Down 6.6%

Shares of NYSE MOD opened at $129.62 on Thursday. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The stock has a market cap of $6.88 billion, a PE ratio of 48.73, a P/E/G ratio of 0.46 and a beta of 1.71. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $174.55 and a 200 day moving average of $214.78.

Hedge Funds Weigh In On Modine Manufacturing

A number of institutional investors have recently bought and sold shares of MOD. Integrity Alliance LLC. acquired a new stake in shares of Modine Manufacturing during the third quarter valued at about $279,000. Bridge City Capital LLC raised its stake in shares of Modine Manufacturing by 14.1% in the 3rd quarter. Bridge City Capital LLC now owns 39,036 shares of the auto parts company’s stock valued at $7,308,000 after acquiring an additional 4,833 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Modine Manufacturing in the 3rd quarter valued at approximately $3,461,000. MGO One Seven LLC acquired a new position in shares of Modine Manufacturing in the 3rd quarter worth approximately $209,000. Finally, State of Wyoming lifted its holdings in shares of Modine Manufacturing by 19.4% in the 3rd quarter. State of Wyoming now owns 2,988 shares of the auto parts company’s stock worth $559,000 after acquiring an additional 485 shares during the last quarter. 95.23% of the stock is 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.