Modine Manufacturing (NYSE:MOD) Price Target Raised to $265.00

Modine Manufacturing (NYSE:MOD) had its target price raised by DA Davidson from $255.00 to $265.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

MOD has been the subject of several other reports. KeyCorp raised their price target on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Oppenheimer increased their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, UBS Group initiated coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $213.25.

Modine Manufacturing Trading Down 0.0%

Shares of MOD stock opened at $219.72 on Monday. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $235.02. The firm has a market cap of $11.59 billion, a PE ratio of 122.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.71. The company has a 50-day moving average of $152.26 and a two-hundred day moving average of $147.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business’s revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. On average, analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Activity at Modine Manufacturing

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

Institutional Trading of Modine Manufacturing

A number of institutional investors have recently bought and sold shares of the business. Spire Wealth Management purchased a new position in Modine Manufacturing in the fourth quarter valued at approximately $27,000. First Horizon Corp purchased a new position in shares of Modine Manufacturing in the 3rd quarter valued at $38,000. Sunbelt Securities Inc. acquired a new stake in Modine Manufacturing during the 3rd quarter worth $39,000. Parkside Financial Bank & Trust raised its stake in Modine Manufacturing by 2,025.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 405 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in Modine Manufacturing in the third quarter valued at $43,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

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.