B. Riley Financial Forecasts Strong Price Appreciation for Modine Manufacturing (NYSE:MOD) Stock

Modine Manufacturing (NYSE:MOD) had its price target hoisted by investment analysts at B. Riley Financial from $250.00 to $264.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the auto parts company’s stock. B. Riley Financial’s price objective suggests a potential downside of 12.55% from the stock’s previous close.

Several other brokerages have also recently weighed in on MOD. Oppenheimer raised their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Roth Mkm assumed coverage on Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target for the company. Glj Research assumed coverage on Modine Manufacturing in a report on Monday, March 30th. They set a “buy” rating and a $290.00 price target for the company. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Modine Manufacturing in a report on Wednesday, May 6th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.57.

Modine Manufacturing Stock Up 15.9%

Shares of NYSE MOD traded up $41.36 during mid-day trading on Tuesday, hitting $301.88. The company had a trading volume of 2,391,826 shares, compared to its average volume of 1,270,809. The company has a market capitalization of $15.92 billion, a PE ratio of 167.71, a price-to-earnings-growth ratio of 1.06 and a beta of 1.66. The firm has a 50-day simple moving average of $239.54 and a two-hundred day simple moving average of $191.78. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a one year low of $86.48 and a one year high of $323.25.

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds have recently bought and sold shares of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after acquiring an additional 7,831 shares during the last quarter. California Public Employees Retirement System lifted its position in Modine Manufacturing by 8.3% during the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after acquiring an additional 5,244 shares during the last quarter. State Street Corp lifted its position in Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after acquiring an additional 53,351 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Modine Manufacturing by 106.3% during the second quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after acquiring an additional 83,105 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Modine Manufacturing by 70.8% during the second quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after acquiring an additional 128,348 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About Modine Manufacturing

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.