Modine Manufacturing (NYSE:MOD) Price Target Raised to $265.00 at DA Davidson

Modine Manufacturing (NYSE:MOD) had its price objective upped by equities research analysts at DA Davidson from $255.00 to $265.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the auto parts company’s stock. DA Davidson’s price objective would indicate a potential upside of 20.69% from the company’s current price.

A number of other brokerages have also weighed in on MOD. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Oppenheimer boosted their price target on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group started coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Finally, KeyCorp raised their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Modine Manufacturing currently has an average rating of “Buy” and an average target price of $213.25.

Modine Manufacturing Price Performance

NYSE MOD traded up $3.85 during trading on Monday, hitting $219.57. 884,812 shares of the company’s stock were exchanged, compared to its average volume of 1,810,772. The company has a market cap of $11.58 billion, a PE ratio of 122.06, a P/E/G ratio of 1.33 and a beta of 1.70. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $224.70. The stock’s 50 day moving average price is $148.62 and its two-hundred day moving average price is $145.49.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s revenue was up 30.5% on a year-over-year basis. Research analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares in the company, valued at $38,263,374.72. This represents a 11.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the sale, the director directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. This represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 34,071 shares of company stock valued at $5,484,685. 2.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Modine Manufacturing

Large investors have recently modified their holdings of the stock. Spire Wealth Management bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at $27,000. First Horizon Corp acquired a new stake in Modine Manufacturing in the third quarter worth $38,000. Sunbelt Securities Inc. bought a new stake in Modine Manufacturing in the third quarter valued at $39,000. Parkside Financial Bank & Trust increased its stake in Modine Manufacturing by 2,025.0% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 405 shares in the last quarter. Finally, Danske Bank A S acquired a new position in shares of Modine Manufacturing during the third quarter valued at about $43,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.