Modine Manufacturing’s (MOD) “Buy” Rating Reaffirmed at B. Riley

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a note issued to investors on Thursday, Benzinga reports. They presently have a $125.00 target price on the auto parts company’s stock. B. Riley’s target price indicates a potential upside of 29.39% from the company’s current price.

A number of other research firms have also recently commented on MOD. DA Davidson lifted their price target on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Oppenheimer lifted their price target on shares of Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock traded up $0.28 during mid-day trading on Thursday, hitting $96.61. 168,468 shares of the stock were exchanged, compared to its average volume of 940,159. Modine Manufacturing has a 12 month low of $31.38 and a 12 month high of $109.53. The company has a 50-day simple moving average of $96.70 and a 200 day simple moving average of $83.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.64. The company has a market capitalization of $5.05 billion, a P/E ratio of 31.88, a P/E/G ratio of 0.77 and a beta of 2.26.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.02). Modine Manufacturing had a return on equity of 24.69% and a net margin of 6.71%. The firm had revenue of $603.50 million for the quarter, compared to the consensus estimate of $605.44 million. During the same period in the prior year, the business earned $0.67 EPS. Modine Manufacturing’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Modine Manufacturing will post 3.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MOD. Vanguard Group Inc. lifted its stake in Modine Manufacturing by 27.3% in the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after purchasing an additional 838,460 shares during the last quarter. Reinhart Partners LLC. purchased a new stake in Modine Manufacturing in the fourth quarter worth about $41,129,000. American Century Companies Inc. grew its holdings in Modine Manufacturing by 570.1% in the third quarter. American Century Companies Inc. now owns 700,758 shares of the auto parts company’s stock worth $32,060,000 after purchasing an additional 596,177 shares during the period. Hennessy Advisors Inc. purchased a new stake in Modine Manufacturing in the fourth quarter worth about $35,414,000. Finally, Capital International Investors grew its holdings in Modine Manufacturing by 40.6% in the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after purchasing an additional 411,946 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

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.