Modine Manufacturing (NYSE:MOD) Receives “Buy” Rating from DA Davidson

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a report released on Monday,Benzinga reports. They presently have a $330.00 price objective on the auto parts company’s stock. DA Davidson’s price objective would suggest a potential upside of 13.72% from the stock’s previous close.

A number of other brokerages have also recently commented on MOD. B. Riley Financial boosted their price objective on Modine Manufacturing from $250.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Oppenheimer upped their price target on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Weiss Ratings upgraded Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, UBS Group increased their price target on Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Modine Manufacturing Trading Down 2.4%

Shares of MOD traded down $7.19 on Monday, hitting $290.18. 112,266 shares of the stock traded hands, compared to its average volume of 1,288,055. The firm has a market capitalization of $15.33 billion, a P/E ratio of 129.21, a P/E/G ratio of 0.96 and a beta of 1.65. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Modine Manufacturing has a 1 year low of $86.48 and a 1 year high of $323.25. The stock’s 50 day moving average is $267.17 and its two-hundred day moving average is $210.11.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. The firm had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. As a group, sell-side analysts predict that Modine Manufacturing will post 7.73 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Modine Manufacturing by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after buying an additional 97,035 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Modine Manufacturing by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock worth $384,415,000 after buying an additional 130,511 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after acquiring an additional 560,131 shares during the period. Wasatch Advisors LP lifted its stake in shares of Modine Manufacturing by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after acquiring an additional 23,955 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Modine Manufacturing by 13.8% in the fourth quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after acquiring an additional 179,617 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

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.