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

Modine Manufacturing (NYSE:MOD) had its price target upped by equities research analysts at Oppenheimer from $144.00 to $145.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the auto parts company’s stock. Oppenheimer’s target price suggests a potential upside of 23.92% from the company’s current price.

Several other research firms also recently weighed in on MOD. B. Riley raised their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. DA Davidson boosted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, William Blair initiated coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Price Performance

Shares of MOD traded down $3.88 during mid-day trading on Thursday, hitting $117.01. The company’s stock had a trading volume of 514,272 shares, compared to its average volume of 856,507. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The firm has a 50-day simple moving average of $122.92 and a 200 day simple moving average of $108.33. The firm has a market capitalization of $6.13 billion, a P/E ratio of 38.40, a P/E/G ratio of 0.98 and a beta of 2.22. Modine Manufacturing has a 1-year low of $38.82 and a 1-year high of $141.72.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. Modine Manufacturing’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. Analysts predict that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 144,038 shares in the company, valued at $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Modine Manufacturing

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