Oppenheimer Increases Modine Manufacturing (NYSE:MOD) Price Target to $144.00

Modine Manufacturing (NYSE:MOD) had its target price upped by Oppenheimer from $135.00 to $144.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the auto parts company’s stock. Oppenheimer’s target price indicates a potential upside of 11.39% from the stock’s previous close.

A number of other research firms also recently weighed in on MOD. William Blair started coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson upped their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, B. Riley lifted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.33.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $129.28 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. The company has a market capitalization of $6.77 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 1.02 and a beta of 2.22. The stock has a fifty day moving average of $117.56 and a 200-day moving average of $105.68. Modine Manufacturing has a one year low of $38.50 and a one year high of $138.99.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business had revenue of $661.50 million for the quarter, compared to analyst estimates of $633.55 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the transaction, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MOD. Banque Cantonale Vaudoise increased its holdings in Modine Manufacturing by 9.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock valued at $117,000 after purchasing an additional 104 shares during the last quarter. Xponance Inc. lifted its position in Modine Manufacturing by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock valued at $328,000 after acquiring an additional 153 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Modine Manufacturing by 0.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after purchasing an additional 155 shares during the period. Horizon Investment Services LLC increased its holdings in Modine Manufacturing by 4.4% during the 1st quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock worth $434,000 after purchasing an additional 191 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its stake in shares of Modine Manufacturing by 2.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock valued at $701,000 after purchasing an additional 200 shares during the period. 95.23% of the stock is currently owned by institutional investors.

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.