Oppenheimer Raises Modine Manufacturing (NYSE:MOD) Price Target to $144.00

Modine Manufacturing (NYSE:MOD) had its price objective boosted by Oppenheimer from $135.00 to $144.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

Other analysts have also recently issued reports about the stock. B. Riley upped their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. DA Davidson upped their price target on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, William Blair initiated coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $146.33.

Modine Manufacturing Trading Up 3.9 %

NYSE MOD opened at $134.27 on Monday. The stock has a market cap of $7.04 billion, a P/E ratio of 44.31, a PEG ratio of 1.02 and a beta of 2.22. The company’s fifty day simple moving average is $118.35 and its 200-day simple moving average is $105.88. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a 52 week low of $38.50 and a 52 week high of $138.99.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.18. The firm had revenue of $661.50 million for the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Equities research analysts predict that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares in the company, valued at $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Modine Manufacturing

Several institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise grew its position in shares of Modine Manufacturing by 9.8% during the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after acquiring an additional 104 shares during the last quarter. Xponance Inc. grew its position in shares of Modine Manufacturing by 4.9% during the second quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock worth $328,000 after acquiring an additional 153 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Modine Manufacturing by 0.7% during the second quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after acquiring an additional 155 shares during the last quarter. Horizon Investment Services LLC grew its position in shares of Modine Manufacturing by 4.4% during the first quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock worth $434,000 after acquiring an additional 191 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its position in shares of Modine Manufacturing by 2.9% during the second quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock worth $701,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.