Modine Manufacturing (NYSE:MOD) Price Target Increased to $110.00 by Analysts at Oppenheimer

Modine Manufacturing (NYSE:MOD) had its price target upped by stock analysts at Oppenheimer from $105.00 to $110.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the auto parts company’s stock. Oppenheimer’s price objective would suggest a potential upside of 13.48% from the stock’s previous close.

Several other brokerages also recently issued reports on MOD. StockNews.com downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. B. Riley reissued a “buy” rating and issued a $98.00 price objective (up from $88.00) on shares of Modine Manufacturing in a research report on Tuesday, February 27th. Finally, DA Davidson reissued a “buy” rating and issued a $90.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.33.

Modine Manufacturing Price Performance

MOD stock opened at $96.93 on Thursday. Modine Manufacturing has a 1 year low of $19.53 and a 1 year high of $109.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. The stock’s 50 day moving average price is $95.62 and its 200 day moving average price is $75.19. The firm has a market cap of $5.06 billion, a P/E ratio of 31.99, a PEG ratio of 0.77 and a beta of 2.28.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, May 21st. The auto parts company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Modine Manufacturing had a return on equity of 25.33% and a net margin of 6.71%. The firm had revenue of $603.50 million for the quarter, compared to analyst estimates of $605.44 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts expect that Modine Manufacturing will post 3.86 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the transaction, the chief financial officer now owns 194,587 shares of the company’s stock, valued at $17,577,043.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Michael B. Lucareli sold 82,312 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the sale, the chief financial officer now owns 194,587 shares in the company, valued at $17,577,043.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher William Patterson sold 14,225 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the sale, the director now owns 97,517 shares in the company, valued at approximately $8,831,139.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,336 shares of company stock valued at $10,330,115. Insiders own 2.86% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently made changes to their positions in the company. Legato Capital Management LLC increased its stake in shares of Modine Manufacturing by 193.7% in the fourth quarter. Legato Capital Management LLC now owns 24,317 shares of the auto parts company’s stock valued at $1,452,000 after purchasing an additional 16,037 shares during the period. Vanguard Group Inc. increased its stake in shares of Modine Manufacturing by 3.2% in the third quarter. Vanguard Group Inc. now owns 3,056,893 shares of the auto parts company’s stock valued at $139,853,000 after purchasing an additional 95,255 shares during the period. SG Capital Management LLC increased its stake in shares of Modine Manufacturing by 1,457.9% in the third quarter. SG Capital Management LLC now owns 208,659 shares of the auto parts company’s stock valued at $9,546,000 after purchasing an additional 195,265 shares during the period. Reinhart Partners LLC. acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $41,129,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Modine Manufacturing by 107.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,732 shares of the auto parts company’s stock valued at $700,000 after purchasing an additional 6,075 shares during the period. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.