Modine Manufacturing (NYSE:MOD) Given New $240.00 Price Target at Oppenheimer

Modine Manufacturing (NYSE:MOD) had its target price increased by Oppenheimer from $220.00 to $240.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

A number of other analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. KeyCorp upped their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. UBS Group assumed coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective on the stock. DA Davidson restated a “buy” rating and set a $200.00 target price on shares of Modine Manufacturing in a report on Thursday, January 29th. Finally, Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $197.00.

Modine Manufacturing Trading Up 5.1%

Shares of MOD opened at $215.80 on Friday. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of 119.89, a PEG ratio of 1.30 and a beta of 1.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $220.42. The company has a 50-day moving average of $148.62 and a 200 day moving average of $144.81.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 23.74%. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same period in the prior year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, research analysts expect that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares of the company’s stock, valued at $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 34,071 shares of company stock worth $5,484,685. 2.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOD. Global Retirement Partners LLC grew its stake in Modine Manufacturing by 753.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,298 shares of the auto parts company’s stock valued at $173,000 after purchasing an additional 1,146 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth about $507,000. Handelsbanken Fonder AB boosted its position in Modine Manufacturing by 12.2% in the fourth quarter. Handelsbanken Fonder AB now owns 14,700 shares of the auto parts company’s stock valued at $1,963,000 after buying an additional 1,600 shares during the last quarter. ProShare Advisors LLC increased its holdings in Modine Manufacturing by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 9,584 shares of the auto parts company’s stock worth $1,280,000 after buying an additional 617 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Modine Manufacturing during the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.