KeyCorp Forecasts Strong Price Appreciation for Modine Manufacturing (NYSE:MOD) Stock

Modine Manufacturing (NYSE:MOD) had its price objective boosted by KeyCorp from $150.00 to $160.00 in a report issued on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the auto parts company’s stock.

MOD has been the subject of a number of other research reports. Oppenheimer raised their price target on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Modine Manufacturing presently has a consensus rating of “Buy” and an average target price of $145.67.

Modine Manufacturing Stock Down 1.6%

MOD stock opened at $134.8980 on Monday. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $7.08 billion, a P/E ratio of 38.65, a PEG ratio of 0.87 and a beta of 2.12. The firm has a 50 day simple moving average of $110.30 and a 200-day simple moving average of $95.10.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The business had revenue of $682.80 million during the quarter, compared to the consensus estimate of $653.80 million. During the same quarter last year, the company earned $1.04 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Modine Manufacturing has set its FY 2026 guidance at EPS. On average, equities research analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael B. Lucareli sold 80,661 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $128.33, for a total transaction of $10,351,226.13. Following the completion of the transaction, the executive vice president owned 66,920 shares of the company’s stock, valued at approximately $8,587,843.60. The trade was a 54.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brian Jon Agen sold 47,939 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the transaction, the vice president directly owned 90,015 shares of the company’s stock, valued at approximately $9,946,657.50. This trade represents a 34.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,561 shares of company stock valued at $25,462,844. 2.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Modine Manufacturing

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Modine Manufacturing by 63.1% during the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock valued at $28,000 after acquiring an additional 142 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Modine Manufacturing by 245.9% during the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 300 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 405 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Modine Manufacturing during the first quarter valued at about $46,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Modine Manufacturing by 442.4% during the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company’s stock valued at $49,000 after purchasing an additional 522 shares in 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.