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

DA Davidson reiterated their buy rating on shares of Modine Manufacturing (NYSE:MOD) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $330.00 price target on the auto parts company’s stock.

Other equities research analysts also recently issued research reports about the stock. Glj Research reaffirmed a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a research note on Monday, June 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. B. Riley Financial reaffirmed a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Finally, KeyCorp reiterated an “overweight” rating and set a $280.00 target price on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing Stock Up 0.8%

Shares of Modine Manufacturing stock opened at $188.79 on Tuesday. The business has a fifty day simple moving average of $193.29 and a 200 day simple moving average of $230.94. The stock has a market cap of $10.03 billion, a PE ratio of 70.97, a price-to-earnings-growth ratio of 0.61 and a beta of 1.71. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. Modine Manufacturing has a 12 month low of $111.18 and a 12 month high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. The firm had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The company’s revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. Research analysts predict that Modine Manufacturing will post 7.65 EPS for the current year.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in MOD. Cim Investment Management Inc. increased its holdings in Modine Manufacturing by 7.6% during the 2nd quarter. Cim Investment Management Inc. now owns 1,853 shares of the auto parts company’s stock worth $495,000 after purchasing an additional 131 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of Modine Manufacturing in the second quarter valued at about $248,000. Tidal Investments LLC boosted its position in shares of Modine Manufacturing by 52.6% during the second quarter. Tidal Investments LLC now owns 159,453 shares of the auto parts company’s stock worth $42,577,000 after buying an additional 54,960 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Modine Manufacturing during the second quarter worth about $6,188,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Modine Manufacturing by 213.6% during the second quarter. NewEdge Advisors LLC now owns 1,270 shares of the auto parts company’s stock worth $339,000 after buying an additional 865 shares in 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 diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company’s products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.