Modine Manufacturing (NYSE:MOD) Price Target Raised to $135.00

Modine Manufacturing (NYSE:MOD) had its price objective increased by Oppenheimer from $114.00 to $135.00 in a report released on Thursday, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

A number of other research firms have also recently commented on MOD. DA Davidson upped their price objective on shares of Modine Manufacturing from $120.00 to $140.00 and gave the company a buy rating in a research report on Thursday. B. Riley increased their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a buy rating in a research note on Thursday. Finally, William Blair assumed coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They set an outperform rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing presently has a consensus rating of Moderate Buy and an average target price of $138.33.

Modine Manufacturing Price Performance

Shares of MOD opened at $98.80 on Thursday. The stock has a market cap of $5.18 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 0.86 and a beta of 2.27. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $123.92. The stock’s 50-day moving average price is $101.72 and its two-hundred day moving average price is $92.38. The company has a current ratio of 1.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same quarter last year, the firm earned $0.85 EPS. Modine Manufacturing’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Modine Manufacturing will post 3.81 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise increased its stake in Modine Manufacturing by 9.8% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock valued at $117,000 after buying an additional 104 shares during the last quarter. Riverwater Partners LLC increased its position in shares of Modine Manufacturing by 0.6% in the first quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock valued at $2,250,000 after acquiring an additional 152 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in Modine Manufacturing by 0.7% during the second quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after acquiring an additional 155 shares in the last quarter. Horizon Investment Services LLC boosted its position in Modine Manufacturing by 4.4% during the first quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock valued at $434,000 after purchasing an additional 191 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in Modine Manufacturing by 2.9% in the second quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock valued at $701,000 after purchasing an additional 200 shares in the last quarter. 95.23% of the stock is currently owned by 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.