Modine Manufacturing (NYSE:MOD) Now Covered by Analysts at Cantor Fitzgerald

Analysts at Cantor Fitzgerald assumed coverage on shares of Modine Manufacturing (NYSE:MOD) in a research note issued on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating and a $275.00 price target on the auto parts company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 83.79% from the stock’s current price.

MOD has been the subject of a number of other reports. Robert W. Baird began coverage on shares of Modine Manufacturing in a report on Tuesday, October 6th. They issued an “outperform” rating and a $300.00 target price for the company. Zacks Research lowered shares of Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research report on Friday. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Finally, DA Davidson reiterated a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.67.

Modine Manufacturing Stock Up 0.5%

Shares of NYSE:MOD opened at $149.63 on Tuesday. 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 firm has a market cap of $7.95 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 0.53 and a beta of 1.71. The stock’s 50-day moving average price is $185.91 and its two-hundred day moving average price is $227.72. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. During the same quarter in the prior year, the company posted $0.95 EPS. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, research analysts forecast that Modine Manufacturing will post 7.02 EPS for the current year.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in Modine Manufacturing during the 2nd quarter worth approximately $4,478,000. Lazard Asset Management LLC acquired a new position in Modine Manufacturing during the first quarter valued at approximately $1,722,000. Robinhood Asset Management LLC acquired a new position in Modine Manufacturing during the second quarter valued at approximately $8,848,000. Ranger Investment Management L.P. purchased a new stake in Modine Manufacturing during the first quarter worth approximately $15,557,000. Finally, SIR Capital Management L.P. purchased a new stake in Modine Manufacturing during the second quarter worth approximately $10,452,000. 95.23% of the stock is owned by institutional investors and hedge funds.

About Modine Manufacturing

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.