Modine Manufacturing (NYSE:MOD) Receives “Buy” Rating from DA Davidson

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They currently have a $200.00 price target on the auto parts company’s stock. DA Davidson’s price target suggests a potential upside of 14.73% from the company’s previous close.

Other research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. UBS Group assumed coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target for the company. Oppenheimer increased their price target on shares of Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Finally, KeyCorp lifted their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Stock Performance

NYSE MOD traded up $27.42 during trading hours on Thursday, hitting $174.32. The company had a trading volume of 3,347,111 shares, compared to its average volume of 1,593,627. The business has a 50 day moving average of $142.49 and a 200-day moving average of $140.13. The company has a market cap of $9.18 billion, a PE ratio of 50.40, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $182.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.09. The business had revenue of $738.90 million during the quarter, compared to the consensus estimate of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. As a group, equities research analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the transaction, the chief executive officer owned 238,312 shares in the company, valued at $38,263,374.72. This trade represents a 11.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $150.00, for a total transaction of $165,000.00. Following the sale, the director directly owned 80,956 shares in the company, valued at approximately $12,143,400. This represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust grew its position in Modine Manufacturing by 17.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 75 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Modine Manufacturing by 0.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock valued at $1,290,000 after acquiring an additional 100 shares during the last quarter. State of Alaska Department of Revenue grew its position in Modine Manufacturing by 3.4% in the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after buying an additional 103 shares during the last quarter. Intrust Bank NA raised its position in shares of Modine Manufacturing by 2.3% during the third quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock worth $699,000 after purchasing an additional 109 shares during the period. Finally, BCS Private Wealth Management Inc. raised its holdings in Modine Manufacturing by 2.8% during the 3rd quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock worth $643,000 after buying an additional 125 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.