DA Davidson Reaffirms “Buy” Rating for Modine Manufacturing (NYSE:MOD)

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reissued by DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $330.00 price target on the auto parts company’s stock. DA Davidson‘s target price would indicate a potential upside of 138.17% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on MOD. 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. 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 research note on Saturday, July 25th. Zacks Research downgraded shares of Modine Manufacturing from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $305.67.

Modine Manufacturing Stock Up 6.4%

NYSE:MOD traded up $8.29 during trading hours on Tuesday, reaching $138.56. The company’s stock had a trading volume of 676,119 shares, compared to its average volume of 1,385,560. 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 $7.36 billion, a price-to-earnings ratio of 52.08, a price-to-earnings-growth ratio of 0.47 and a beta of 1.71. Modine Manufacturing has a one year low of $111.18 and a one year high of $323.25. The business’s 50-day moving average is $181.22 and its 200-day moving average is $214.49.

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, topping analysts’ consensus estimates 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%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Equities research analysts predict that Modine Manufacturing will post 7.02 EPS for the current year.

Institutional Investors Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently bought and sold shares of MOD. Total Clarity Wealth Management Inc. acquired a new stake in shares of Modine Manufacturing during the 3rd quarter valued at about $465,000. WESPAC Advisors LLC lifted its stake in Modine Manufacturing by 64.6% during the third quarter. WESPAC Advisors LLC now owns 3,929 shares of the auto parts company’s stock worth $736,000 after purchasing an additional 1,542 shares during the period. Signaturefd LLC boosted its holdings in Modine Manufacturing by 11.6% during the third quarter. Signaturefd LLC now owns 848 shares of the auto parts company’s stock valued at $159,000 after purchasing an additional 88 shares in the last quarter. Simplicity Wealth LLC grew its stake 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 position in shares of Modine Manufacturing in the 3rd quarter worth approximately $86,000. Institutional investors own 95.23% of the company’s stock.

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.