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

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating restated by analysts at DA Davidson in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $330.00 price target on the auto parts company’s stock. DA Davidson‘s price target would suggest a potential upside of 140.40% from the company’s previous close.

Several other research analysts have also recently weighed in on MOD. KeyCorp reissued an “overweight” rating and issued a $280.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Oppenheimer decreased their target price on Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating for the company in a research report on Friday, October 2nd. Robert W. Baird assumed coverage on Modine Manufacturing in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $300.00 target price on the stock. Finally, Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $305.67.

Modine Manufacturing Stock Up 5.4%

MOD stock traded up $7.00 during midday trading on Tuesday, reaching $137.27. 287,531 shares of the company’s stock traded hands, compared to its average volume of 1,383,874. 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 firm’s fifty day moving average price is $181.22 and its 200-day moving average price is $214.49. Modine Manufacturing has a 52 week low of $111.18 and a 52 week high of $323.25. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 51.69, a P/E/G ratio of 0.47 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last announced 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 business had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%. Modine Manufacturing’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. As a group, sell-side analysts forecast that Modine Manufacturing will post 7.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Modine Manufacturing in the second quarter valued at $765,540,000. Paradigm Capital Management Inc. NY bought a new position in shares of Modine Manufacturing during the 2nd quarter valued at $388,140,000. Reinhart Partners LLC. grew its holdings in shares of Modine Manufacturing by 76.4% during the 3rd quarter. Reinhart Partners LLC. now owns 980,220 shares of the auto parts company’s stock valued at $183,497,000 after purchasing an additional 424,534 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Modine Manufacturing by 2,249.9% during the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after purchasing an additional 501,229 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new position in Modine Manufacturing in the 2nd quarter worth $123,873,000. Institutional investors 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.