Modine Manufacturing (NYSE:MOD) Stock Keeps Buy Rating at DA Davidson

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $330.00 target price on the auto parts company’s stock. DA Davidson’s price objective would indicate a potential upside of 79.30% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 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 report on Thursday, July 30th. KeyCorp reissued an “overweight” rating and issued a $280.00 target price on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Finally, Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing has an average rating of “Moderate Buy” and an average price target of $320.14.

Modine Manufacturing Stock Up 5.1%

Shares of MOD traded up $9.01 during mid-day trading on Tuesday, hitting $184.05. 1,442,908 shares of the company’s stock were exchanged, compared to its average volume of 1,386,525. The stock’s 50-day moving average is $197.01 and its 200-day moving average is $231.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 69.19, a P/E/G ratio of 0.65 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. During the same period in the previous year, the firm posted $0.95 EPS. Modine Manufacturing’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, sell-side analysts anticipate that Modine Manufacturing will post 7.65 earnings per share for the current fiscal year.

Institutional Trading of Modine Manufacturing

A number of large investors have recently made changes to their positions in MOD. BlackRock Inc. acquired a new position in shares of Modine Manufacturing in the 2nd quarter valued at $765,540,000. Paradigm Capital Management Inc. NY acquired a new stake in Modine Manufacturing in the second quarter valued at $388,140,000. Janus Henderson Group PLC increased its holdings in Modine Manufacturing by 2,249.9% in the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after buying an additional 501,229 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of Modine Manufacturing during the 2nd quarter valued at approximately $123,873,000. Finally, Blue Whale Capital LLP purchased a new stake in shares of Modine Manufacturing during the 2nd quarter worth approximately $123,747,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

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.