Modine Manufacturing (NYSE:MOD) Sets New 12-Month High After Analyst Upgrade

Shares of Modine Manufacturing Company (NYSE:MOD) hit a new 52-week high during trading on Tuesday after DA Davidson raised their price target on the stock from $255.00 to $265.00. DA Davidson currently has a buy rating on the stock. Modine Manufacturing traded as high as $224.70 and last traded at $219.27, with a volume of 1496747 shares. The stock had previously closed at $215.72.

A number of other brokerages also recently weighed in on MOD. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. KeyCorp boosted their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Oppenheimer boosted their target price on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, UBS Group began coverage on Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $213.25.

Insider Transactions at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the sale, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This represents a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,071 shares of company stock valued at $5,484,685 in the last quarter. 2.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

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

Modine Manufacturing Trading Up 0.4%

The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $11.60 billion, a P/E ratio of 122.26, a PEG ratio of 1.36 and a beta of 1.71. The business has a 50 day moving average of $151.02 and a 200-day moving average of $147.16.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $763.54 million. During the same quarter in the prior year, the company earned $0.92 earnings per share. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. Analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

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.