B. Riley Raises Modine Manufacturing (NYSE:MOD) Price Target to $140.00

Modine Manufacturing (NYSE:MOD) had its price objective increased by B. Riley from $125.00 to $140.00 in a research note published on Thursday, Marketbeat reports. B. Riley currently has a buy rating on the auto parts company’s stock.

Several other equities research analysts have also weighed in on the company. William Blair began coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an outperform rating on the stock. DA Davidson boosted their target price on shares of Modine Manufacturing from $110.00 to $120.00 and gave the company a buy rating in a research note on Friday, May 24th. Finally, Oppenheimer lifted their price target on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an outperform rating in a report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Modine Manufacturing presently has a consensus rating of Moderate Buy and a consensus target price of $138.33.

Modine Manufacturing Stock Performance

NYSE MOD traded down $2.00 during midday trading on Thursday, hitting $96.80. The company had a trading volume of 564,617 shares, compared to its average volume of 947,692. Modine Manufacturing has a fifty-two week low of $38.50 and a fifty-two week high of $123.92. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 0.86 and a beta of 2.27. The firm has a fifty day simple moving average of $101.72 and a two-hundred day simple moving average of $92.58. The company has a quick ratio of 0.98, a current ratio of 1.80 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.86 by $0.18. The firm had revenue of $661.50 million during the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. Modine Manufacturing’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. Equities analysts forecast that Modine Manufacturing will post 3.81 earnings per share for the current fiscal year.

Institutional Trading of Modine Manufacturing

Several hedge funds have recently modified their holdings of the stock. TD Asset Management Inc increased its stake in shares of Modine Manufacturing by 51.2% in the 2nd quarter. TD Asset Management Inc now owns 13,000 shares of the auto parts company’s stock valued at $1,302,000 after buying an additional 4,400 shares during the period. Cannon Global Investment Management LLC bought a new position in shares of Modine Manufacturing in the 2nd quarter worth $401,000. LMG Wealth Partners LLC boosted its stake in Modine Manufacturing by 5.9% during the 2nd quarter. LMG Wealth Partners LLC now owns 14,467 shares of the auto parts company’s stock worth $1,449,000 after acquiring an additional 804 shares during the last quarter. Allegheny Financial Group LTD acquired a new position in Modine Manufacturing during the second quarter valued at approximately $205,000. Finally, Rhumbline Advisers increased its stake in Modine Manufacturing by 0.9% in the second quarter. Rhumbline Advisers now owns 82,979 shares of the auto parts company’s stock valued at $8,314,000 after purchasing an additional 712 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.