Modine Manufacturing (NYSE:MOD) Price Target Raised to $140.00

Modine Manufacturing (NYSE:MOD) had its price objective raised by B. Riley from $125.00 to $140.00 in a research report report published on Thursday morning, Marketbeat.com reports. The firm currently has a buy rating on the auto parts company’s stock.

Several other equities analysts have also recently issued reports on MOD. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, May 23rd. William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an outperform rating for the company. Finally, DA Davidson lifted their price objective on Modine Manufacturing from $110.00 to $120.00 and gave the company a buy rating in a report on Friday, May 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of Moderate Buy and a consensus target price of $138.33.

Modine Manufacturing Stock Performance

Shares of MOD stock traded down $2.00 during mid-day trading on Thursday, hitting $96.80. 564,617 shares of the stock were exchanged, compared to its average volume of 947,692. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 0.86 and a beta of 2.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.80. Modine Manufacturing has a 12-month low of $38.50 and a 12-month high of $123.92. The stock’s fifty day simple moving average is $101.72 and its two-hundred day simple moving average is $92.58.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The business 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 company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. On average, analysts forecast that Modine Manufacturing will post 3.81 EPS for the current year.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOD. Banque Cantonale Vaudoise grew its position in shares of Modine Manufacturing by 9.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock valued at $117,000 after purchasing an additional 104 shares during the period. Riverwater Partners LLC raised its position in shares of Modine Manufacturing by 0.6% in the 1st quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock worth $2,250,000 after buying an additional 152 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Modine Manufacturing by 0.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after purchasing an additional 155 shares during the period. Horizon Investment Services LLC raised its holdings in Modine Manufacturing by 4.4% in the first quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock valued at $434,000 after buying an additional 191 shares during the period. Finally, Ameritas Advisory Services LLC lifted its holdings in shares of Modine Manufacturing by 2.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock valued at $701,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors 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.