Brokerages Set Modine Manufacturing Company (NYSE:MOD) Target Price at $327.14

Shares of Modine Manufacturing Company (NYSE:MOD) have been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $327.1429.

MOD has been the subject of several recent research reports. Oppenheimer upped their price objective on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. UBS Group lifted their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. B. Riley Financial lifted their target price on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, KeyCorp boosted their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th.

Modine Manufacturing Trading Up 1.2%

MOD stock traded up $2.91 during midday trading on Friday, hitting $246.41. 923,925 shares of the company’s stock were exchanged, compared to its average volume of 1,695,033. Modine Manufacturing has a one year low of $88.48 and a one year high of $323.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94. The company has a market cap of $13.02 billion, a PE ratio of 110.01, a price-to-earnings-growth ratio of 0.80 and a beta of 1.67. The stock’s fifty day moving average price is $269.77 and its 200-day moving average price is $220.62.

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

Insider Buying and Selling at Modine Manufacturing

In other news, insider Eric S. Mcginnis sold 1,020 shares of Modine Manufacturing stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider directly owned 28,364 shares in the company, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the sale, the director owned 42,350 shares in the company, valued at approximately $12,219,669. This trade represents a 26.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,302 shares of company stock worth $15,928,759 over the last 90 days. Company insiders own 2.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Perigon Wealth Management LLC boosted its stake in Modine Manufacturing by 583.1% during the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock valued at $2,025,000 after purchasing an additional 12,950 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of Modine Manufacturing by 7.8% in the fourth quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock worth $75,948,000 after purchasing an additional 41,373 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Modine Manufacturing by 3,145.2% in the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after purchasing an additional 422,646 shares in the last quarter. Penn Capital Management Company LLC bought a new position in shares of Modine Manufacturing in the third quarter valued at approximately $14,925,000. Finally, WT Asset Management Ltd purchased a new position in shares of Modine Manufacturing during the fourth quarter valued at approximately $69,255,000. Institutional investors own 95.23% of the company’s stock.

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.