B. Riley Boosts Earnings Estimates for Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) – Analysts at B. Riley boosted their FY2027 EPS estimates for Modine Manufacturing in a report released on Thursday, July 24th. B. Riley analyst J. Van. Sinderen now forecasts that the auto parts company will post earnings of $5.72 per share for the year, up from their previous estimate of $5.67. The consensus estimate for Modine Manufacturing’s current full-year earnings is $3.88 per share.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. The firm had revenue of $647.20 million for the quarter, compared to analysts’ expectations of $633.13 million. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS.

MOD has been the subject of several other reports. Oppenheimer raised their target price on Modine Manufacturing from $121.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, July 1st. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Finally, KeyCorp assumed coverage on shares of Modine Manufacturing in a research report on Thursday, June 12th. They issued an “overweight” rating and a $125.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $135.50.

Modine Manufacturing Stock Performance

Shares of Modine Manufacturing stock opened at $112.24 on Monday. The business’s fifty day simple moving average is $96.09 and its 200 day simple moving average is $93.29. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84. The firm has a market capitalization of $5.89 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 0.69 and a beta of 2.04.

Institutional Trading of Modine Manufacturing

Several hedge funds have recently made changes to their positions in MOD. GAMMA Investing LLC increased its holdings in Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock worth $28,000 after acquiring an additional 142 shares during the last quarter. Bessemer Group Inc. boosted its position in Modine Manufacturing by 9,728.6% during the first quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company’s stock worth $264,000 after purchasing an additional 3,405 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Modine Manufacturing by 159.7% in the first quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company’s stock worth $766,000 after purchasing an additional 6,134 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Modine Manufacturing by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 322,315 shares of the auto parts company’s stock valued at $37,366,000 after purchasing an additional 11,350 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Modine Manufacturing by 384.3% during the 1st quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company’s stock valued at $65,089,000 after buying an additional 672,960 shares in the last quarter. 95.23% of the stock is currently owned by 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.