Modine Manufacturing (NYSE: MOD) recently received a number of ratings updates from brokerages and research firms:
- 8/1/2024 – Modine Manufacturing had its price target raised by analysts at Oppenheimer Holdings Inc. from $114.00 to $135.00. They now have an “outperform” rating on the stock.
- 8/1/2024 – Modine Manufacturing had its price target raised by analysts at DA Davidson from $120.00 to $140.00. They now have a “buy” rating on the stock.
- 8/1/2024 – Modine Manufacturing had its price target raised by analysts at B. Riley from $125.00 to $140.00. They now have a “buy” rating on the stock.
- 7/29/2024 – Modine Manufacturing is now covered by analysts at William Blair. They set an “outperform” rating on the stock.
- 6/27/2024 – Modine Manufacturing had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $125.00 price target on the stock.
Modine Manufacturing Trading Up 0.3 %
NYSE MOD traded up $0.34 during trading hours on Monday, hitting $109.72. 212,684 shares of the company’s stock were exchanged, compared to its average volume of 930,734. The firm has a market capitalization of $5.75 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 0.86 and a beta of 2.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.80. The business’s 50 day moving average is $102.74 and its 200-day moving average is $95.13. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $123.92.
Modine Manufacturing (NYSE:MOD – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.86 by $0.18. The company had revenue of $661.50 million during the quarter, compared to analyst estimates of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, analysts anticipate that Modine Manufacturing will post 3.81 EPS for the current fiscal year.
Insider Activity
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of MOD. Vanguard Group Inc. lifted its holdings in Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after buying an additional 838,460 shares during the last quarter. Hennessy Advisors Inc. bought a new position in Modine Manufacturing during the 4th quarter worth approximately $35,414,000. Capital International Investors lifted its holdings in shares of Modine Manufacturing by 40.6% in the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after purchasing an additional 411,946 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Modine Manufacturing by 32.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after purchasing an additional 272,174 shares during the last quarter. Finally, Emerald Advisers LLC bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $26,064,000. Institutional investors own 95.23% of the company’s stock.
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.
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