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

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $330.00 target price on the auto parts company’s stock. DA Davidson’s price target would indicate a potential upside of 79.66% from the stock’s previous close.

MOD has been the topic of several other reports. Glj Research reiterated a “buy” rating and set a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. B. Riley Financial restated a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Finally, KeyCorp reissued an “overweight” rating and issued a $280.00 price target on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Price Performance

Modine Manufacturing stock traded up $8.64 during mid-day trading on Tuesday, reaching $183.68. 1,634,670 shares of the company’s stock traded hands, compared to its average volume of 1,386,820. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 69.05, a PEG ratio of 0.65 and a beta of 1.74. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $197.01 and a two-hundred day moving average of $231.09.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.26. The business had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Equities analysts forecast that Modine Manufacturing will post 7.65 earnings per share for the current year.

Institutional Trading of Modine Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. purchased a new stake in shares of Modine Manufacturing during the second quarter worth approximately $248,000. Tidal Investments LLC increased its stake in shares of Modine Manufacturing by 52.6% during the second quarter. Tidal Investments LLC now owns 159,453 shares of the auto parts company’s stock worth $42,577,000 after buying an additional 54,960 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Modine Manufacturing during the second quarter worth approximately $6,188,000. NewEdge Advisors LLC increased its stake in shares of Modine Manufacturing by 213.6% during the second quarter. NewEdge Advisors LLC now owns 1,270 shares of the auto parts company’s stock worth $339,000 after buying an additional 865 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in shares of Modine Manufacturing during the second quarter worth approximately $3,598,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal-management company that develops and manufactures products and systems for commercial, industrial, transportation, and building applications. Its solutions are designed to transfer and control heat, improve energy efficiency, and support the operation of engines, vehicles, data centers, and other equipment.

The company operates through businesses focused on climate solutions and performance technologies. Its products and services include heat exchangers, cooling modules, radiators, charge-air coolers, heating and air-conditioning systems, refrigeration and data-center cooling equipment, and thermal-management solutions for electric vehicles and other specialized applications.

Founded in 1916, Modine serves customers in markets worldwide through manufacturing, engineering, and sales operations across North America, Europe, and Asia.