Modine Manufacturing’s (MOD) Buy Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Modine Manufacturing (NYSE:MOD) in a research report released on Tuesday,Benzinga reports. DA Davidson currently has a $265.00 price target on the auto parts company’s stock.

Several other research firms also recently weighed in on MOD. Glj Research assumed coverage on Modine Manufacturing in a report on Monday. They issued a “buy” rating and a $290.00 target price for the company. Oppenheimer lifted their price target on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Roth Mkm initiated coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price for the company. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Buy” and a consensus target price of $234.33.

Modine Manufacturing Trading Down 1.7%

NYSE MOD opened at $219.11 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. The firm’s fifty day moving average price is $205.76 and its 200 day moving average price is $166.74. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of 121.73, a price-to-earnings-growth ratio of 0.91 and a beta of 1.68. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $243.80.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $763.54 million. During the same period in the previous year, the company earned $0.92 earnings per share. Modine Manufacturing’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently bought and sold shares of MOD. Vanguard Group Inc. grew its stake in shares of Modine Manufacturing by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock worth $722,297,000 after purchasing an additional 97,035 shares during the period. Wellington Management Group LLP lifted its stake in shares of Modine Manufacturing by 4.7% in the fourth quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock valued at $384,415,000 after purchasing an additional 130,511 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Modine Manufacturing by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after buying an additional 560,131 shares in the last quarter. Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 1.4% during the second quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after buying an additional 23,955 shares in the last quarter. Finally, Capital Research Global Investors grew its position in Modine Manufacturing by 13.8% during the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after buying an additional 179,617 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.