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

Modine Manufacturing (NYSE:MOD) had its price target upped by Oppenheimer from $144.00 to $145.00 in a research note issued to investors on Thursday, 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. DA Davidson increased their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. William Blair assumed coverage on Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. Finally, B. Riley boosted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Trading Down 5.2 %

NYSE:MOD opened at $111.63 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $122.85 and a 200-day simple moving average of $108.66. Modine Manufacturing has a 12 month low of $39.50 and a 12 month high of $141.72. The company has a market capitalization of $5.86 billion, a P/E ratio of 36.60, a PEG ratio of 0.90 and a beta of 2.25.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that Modine Manufacturing will post 3.85 earnings per share for the current year.

Insider Activity

In other news, Director Marsha C. Williams sold 34,400 shares of the company’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 transaction, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MOD. Vanguard Group Inc. lifted its position in shares of Modine Manufacturing by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,070,556 shares of the auto parts company’s stock valued at $183,312,000 after acquiring an additional 13,663 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Modine Manufacturing in the 1st quarter valued at $626,000. BNP Paribas Financial Markets boosted its stake in Modine Manufacturing by 9.2% during the 1st quarter. BNP Paribas Financial Markets now owns 34,995 shares of the auto parts company’s stock worth $3,331,000 after purchasing an additional 2,951 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Modine Manufacturing during the first quarter worth $833,000. Finally, Nordea Investment Management AB raised its position in shares of Modine Manufacturing by 0.4% in the first quarter. Nordea Investment Management AB now owns 82,126 shares of the auto parts company’s stock valued at $7,879,000 after buying an additional 338 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.