Modine Manufacturing (NYSE:MOD) Raised to “Strong-Buy” at Robert W. Baird

Modine Manufacturing (NYSE:MOD) was upgraded by stock analysts at Robert W. Baird to a “strong-buy” rating in a report released on Monday, Zacks reports.

Several other analysts have also issued reports on MOD. Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. B. Riley Financial restated a “buy” rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Oppenheimer dropped their price objective on Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating for the company in a research note on Friday, October 2nd. Finally, DA Davidson reiterated a “buy” rating and set 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, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $309.50.

Modine Manufacturing Stock Up 3.4%

Shares of NYSE MOD opened at $189.16 on Monday. The stock has a market capitalization of $10.05 billion, a P/E ratio of 71.11, a PEG ratio of 0.60 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 firm’s 50 day simple moving average is $190.68 and its two-hundred day simple moving average is $230.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data 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. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same period in the previous year, the business posted $0.95 EPS. The business’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, analysts expect that Modine Manufacturing will post 7.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Argent Capital Management LLC raised its holdings in Modine Manufacturing by 2.4% in the third quarter. Argent Capital Management LLC now owns 6,712 shares of the auto parts company’s stock worth $1,256,000 after purchasing an additional 159 shares in the last quarter. Cim Investment Management Inc. grew its stake in shares of Modine Manufacturing by 7.6% in the 2nd quarter. Cim Investment Management Inc. now owns 1,853 shares of the auto parts company’s stock worth $495,000 after buying an additional 131 shares during the last quarter. QRG Capital Management Inc. purchased a new position in Modine Manufacturing during the second quarter valued at $248,000. Tidal Investments LLC grew its stake in shares of Modine Manufacturing by 52.6% in the second quarter. Tidal Investments LLC now owns 159,453 shares of the auto parts company’s stock worth $42,577,000 after acquiring an additional 54,960 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in Modine Manufacturing in the 2nd quarter worth about $6,188,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.