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

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reissued by 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 indicates a potential upside of 79.91% from the company’s current price.

Several other analysts have also weighed in on MOD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. B. Riley Financial reaffirmed a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Glj Research reaffirmed a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $280.00 price objective 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Price Performance

NYSE:MOD traded up $8.39 during mid-day trading on Tuesday, hitting $183.43. The company’s stock had a trading volume of 1,310,088 shares, compared to its average volume of 1,385,959. Modine Manufacturing has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 68.96, a P/E/G ratio of 0.65 and a beta of 1.74. The stock has a fifty day moving average of $197.01 and a 200-day moving average of $231.09.

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

Institutional Trading of Modine Manufacturing

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in Modine Manufacturing in the second quarter valued at approximately $4,478,000. Lazard Asset Management LLC bought a new position in Modine Manufacturing in the first quarter valued at approximately $1,722,000. Robinhood Asset Management LLC bought a new position in Modine Manufacturing in the second quarter valued at approximately $8,848,000. Ranger Investment Management L.P. bought a new position in shares of Modine Manufacturing during the first quarter worth $15,557,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Modine Manufacturing by 253.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company’s stock worth $68,230,000 after purchasing an additional 219,373 shares in the last quarter. 95.23% of the stock is owned by institutional investors.

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.