Modine Manufacturing (NYSE:MOD) Receives Outperform Rating from Oppenheimer

Modine Manufacturing (NYSE:MOD)‘s stock had its “outperform” rating reaffirmed by research analysts at Oppenheimer in a report issued on Thursday, Benzinga reports. They presently have a $135.00 price target on the auto parts company’s stock. Oppenheimer’s price target indicates a potential upside of 21.48% from the company’s previous close.

Several other research analysts also recently weighed in on MOD. DA Davidson boosted their target price on Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. William Blair assumed coverage on Modine Manufacturing in a research note on Monday, July 29th. They set an “outperform” rating on the stock. Finally, B. Riley boosted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Modine Manufacturing Price Performance

Shares of MOD opened at $111.13 on Thursday. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22. Modine Manufacturing has a twelve month low of $38.50 and a twelve month high of $123.92. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $107.64 and a two-hundred day moving average of $99.68.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The firm had revenue of $661.50 million during the quarter, compared to analysts’ expectations of $633.55 million. During the same quarter last year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts predict that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

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 sale, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds have recently added to or reduced their stakes in MOD. Banque Cantonale Vaudoise lifted its holdings in shares of Modine Manufacturing by 9.8% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock valued at $117,000 after buying an additional 104 shares during the period. Riverwater Partners LLC raised its position in Modine Manufacturing by 0.6% during the first quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock valued at $2,250,000 after acquiring an additional 152 shares in the last quarter. Xponance Inc. lifted its holdings in Modine Manufacturing by 4.9% in the second 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 during the period. SummerHaven Investment Management LLC lifted its holdings in Modine Manufacturing by 0.7% in the second quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock valued at $2,123,000 after acquiring an additional 155 shares during the period. Finally, Horizon Investment Services LLC boosted its position in Modine Manufacturing by 4.4% in 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. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

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.