Modine Manufacturing’s (MOD) “Buy” Rating Reaffirmed at DA Davidson

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reissued by DA Davidson in a research note issued on Tuesday, Benzinga reports. They presently have a $330.00 price objective on the auto parts company’s stock. DA Davidson‘s target price indicates a potential upside of 141.21% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. KeyCorp reiterated an “overweight” rating and set a $280.00 price target on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. B. Riley Financial reiterated a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Robert W. Baird began coverage on Modine Manufacturing in a research report on Tuesday, October 6th. They set an “outperform” rating and a $300.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Tuesday, August 25th. Finally, Zacks Research cut Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $305.67.

Modine Manufacturing Stock Performance

MOD stock traded up $6.54 during trading on Tuesday, hitting $136.81. 1,093,402 shares of the company traded hands, compared to its average volume of 1,387,939. The stock’s 50-day simple moving average is $178.02 and its 200 day simple moving average is $214.58. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The company has a market cap of $7.27 billion, a PE ratio of 51.43, a P/E/G ratio of 0.47 and a beta of 1.71. Modine Manufacturing has a 1 year low of $111.18 and a 1 year high of $323.25.

Modine Manufacturing (NYSE:MOD) last announced its quarterly 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 company had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%. Modine Manufacturing’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period last year, the business earned $0.95 earnings per share. On average, equities analysts expect that Modine Manufacturing will post 7.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOD. Total Clarity Wealth Management Inc. purchased a new stake in shares of Modine Manufacturing in the 3rd quarter valued at $465,000. WESPAC Advisors LLC boosted its position in shares of Modine Manufacturing by 64.6% during the 3rd quarter. WESPAC Advisors LLC now owns 3,929 shares of the auto parts company’s stock worth $736,000 after acquiring an additional 1,542 shares in the last quarter. Signaturefd LLC boosted its position in shares of Modine Manufacturing by 11.6% during the 3rd quarter. Signaturefd LLC now owns 848 shares of the auto parts company’s stock worth $159,000 after acquiring an additional 88 shares in the last quarter. Simplicity Wealth LLC boosted its position in shares of Modine Manufacturing by 110.3% in the 3rd quarter. Simplicity Wealth LLC now owns 2,698 shares of the auto parts company’s stock valued at $505,000 after purchasing an additional 1,415 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $86,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE: MOD) is a diversified thermal management company that develops and manufactures solutions for managing heat in vehicles, equipment, buildings and industrial systems. Its products are designed to improve efficiency, reliability and performance across a range of applications.

The company serves the automotive, commercial vehicle, off-highway, power generation, data center, heating, ventilation, air conditioning and refrigeration markets. Its offerings include heat exchangers, radiators, charge air coolers, battery and power electronics cooling systems, liquid-cooling equipment, coils and other thermal management components and systems.

Founded in 1916 by Arthur B.