Oppenheimer Increases Modine Manufacturing (NYSE:MOD) Price Target to $145.00

Modine Manufacturing (NYSE:MOD) had its price objective raised by equities researchers at Oppenheimer from $144.00 to $145.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the auto parts company’s stock. Oppenheimer’s price target suggests a potential upside of 23.92% from the company’s current price.

Several other brokerages have also commented on MOD. DA Davidson raised their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. B. Riley lifted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, William Blair began coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing Price Performance

MOD stock traded down $3.88 during midday trading on Thursday, hitting $117.01. The company’s stock had a trading volume of 514,272 shares, compared to its average volume of 856,507. Modine Manufacturing has a 12 month low of $38.82 and a 12 month high of $141.72. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 38.40, a price-to-earnings-growth ratio of 0.98 and a beta of 2.22. The company has a 50 day moving average of $122.92 and a two-hundred day moving average of $108.33. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. On average, analysts expect that Modine Manufacturing will post 3.86 EPS for the current year.

Insider Transactions at Modine Manufacturing

In related news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 144,038 shares in the company, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Modine Manufacturing

Several large investors have recently added to or reduced their stakes in MOD. Vanguard Group Inc. lifted its stake in shares of Modine Manufacturing by 27.3% in the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after purchasing an additional 838,460 shares during the last quarter. Capital International Investors lifted its stake in Modine Manufacturing by 40.6% during the 1st quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after acquiring an additional 411,946 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Modine Manufacturing by 32.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after acquiring an additional 272,174 shares in the last quarter. Emerald Advisers LLC acquired a new position in Modine Manufacturing during the 2nd quarter worth about $26,064,000. Finally, Public Employees Retirement Association of Colorado lifted its stake in Modine Manufacturing by 4,215.8% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 260,547 shares of the auto parts company’s stock worth $26,104,000 after acquiring an additional 254,510 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

About Modine Manufacturing

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.