Modine Manufacturing (NYSE:MOD) PT Raised to $135.00 at Oppenheimer

Modine Manufacturing (NYSE:MOD) had its target price upped by Oppenheimer from $114.00 to $135.00 in a report issued on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the auto parts company’s stock.

MOD has been the topic of a number of other research reports. William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an outperform rating on the stock. B. Riley boosted their price target on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a buy rating in a research report on Thursday. Finally, DA Davidson boosted their price target on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a buy rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $138.33.

Modine Manufacturing Stock Performance

Modine Manufacturing stock traded down $0.99 during midday trading on Thursday, reaching $97.81. 1,255,853 shares of the company’s stock were exchanged, compared to its average volume of 952,595. Modine Manufacturing has a 52 week low of $38.50 and a 52 week high of $123.92. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 0.86 and a beta of 2.27. The stock’s 50-day simple moving average is $101.72 and its 200 day simple moving average is $92.58. 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 (NYSE:MOD) last announced its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. The business had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. On average, analysts expect that Modine Manufacturing will post 3.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

A number of large investors have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. boosted its stake in Modine Manufacturing by 20.4% during the first quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock worth $68,004,000 after buying an additional 121,200 shares during the period. 1492 Capital Management LLC acquired a new stake in Modine Manufacturing during the fourth quarter worth approximately $1,284,000. Janney Montgomery Scott LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth approximately $833,000. State Board of Administration of Florida Retirement System grew its position in shares of Modine Manufacturing by 327.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 62,841 shares of the auto parts company’s stock worth $5,982,000 after acquiring an additional 48,150 shares during the last quarter. Finally, Oliver Luxxe Assets LLC purchased a new position in shares of Modine Manufacturing during the first quarter worth approximately $2,775,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.