Modine Manufacturing (NYSE:MOD) PT Raised to $135.00 at Oppenheimer

Modine Manufacturing (NYSE:MOD) had its price objective lifted by Oppenheimer from $114.00 to $135.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the auto parts company’s stock.

Several other equities research analysts have also recently issued reports on MOD. William Blair began coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an outperform rating on the stock. B. Riley upped their price objective on Modine Manufacturing from $125.00 to $140.00 and gave the stock a buy rating in a research report on Thursday. Finally, DA Davidson boosted their target price on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a buy rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $138.33.

Modine Manufacturing Trading Down 1.0 %

MOD traded down $0.99 during trading on Thursday, hitting $97.81. 1,255,853 shares of the stock were exchanged, compared to its average volume of 952,595. The firm has a 50 day simple moving average of $101.72 and a 200 day simple moving average of $92.58. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 0.86 and a beta of 2.27. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $123.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.80.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Strid Group LLC purchased a new position in shares of Modine Manufacturing during the 1st quarter worth approximately $33,000. Acadian Asset Management LLC acquired a new position in Modine Manufacturing during the first quarter valued at approximately $37,000. Principal Securities Inc. acquired a new position in shares of Modine Manufacturing during the fourth quarter worth $29,000. Opal Wealth Advisors LLC acquired a new position in shares of Modine Manufacturing during the second quarter worth $51,000. Finally, West Oak Capital LLC lifted its position in shares of Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after purchasing an additional 450 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other 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.