Modine Manufacturing (NYSE:MOD) Research Coverage Started at Robert W. Baird

Robert W. Baird started coverage on shares of Modine Manufacturing (NYSE:MOD) in a report published on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $300.00 target price on the auto parts company’s stock.

A number of other research analysts have also recently commented on the stock. B. Riley Financial restated a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report 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. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, DA Davidson restated a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $309.50.

Modine Manufacturing Stock Performance

NYSE MOD opened at $181.36 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The business’s 50 day moving average price is $190.66 and its 200-day moving average price is $230.44. The company has a market cap of $9.63 billion, a P/E ratio of 68.18, a P/E/G ratio of 0.62 and a beta of 1.71. Modine Manufacturing has a fifty-two week low of $111.18 and a fifty-two week high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its 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 firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business’s revenue was up 28.0% on a year-over-year basis. During the same quarter last year, the business earned $0.95 EPS. Sell-side analysts predict that Modine Manufacturing will post 7.68 earnings per share for the current year.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds have recently made changes to their positions in MOD. BlackRock Inc. purchased a new stake in Modine Manufacturing during the second quarter valued at approximately $765,540,000. Paradigm Capital Management Inc. NY purchased a new stake in shares of Modine Manufacturing during the 2nd quarter valued at $388,140,000. Janus Henderson Group PLC boosted its position in shares of Modine Manufacturing by 2,249.9% in the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after purchasing an additional 501,229 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of Modine Manufacturing in the 2nd quarter worth $123,873,000. Finally, Blue Whale Capital LLP purchased a new position in Modine Manufacturing during the 2nd quarter worth $123,747,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company’s products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.