Brokerages Set Modine Manufacturing (NYSE:MOD) Price Target at $135.25

Shares of Modine Manufacturing (NYSE:MOD) have been assigned an average rating of “Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $135.25.

Several equities analysts recently commented on the stock. KeyCorp assumed coverage on shares of Modine Manufacturing in a research note on Thursday. They set an “overweight” rating and a $125.00 target price for the company. Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. DA Davidson reissued a “buy” rating and issued a $155.00 price target on shares of Modine Manufacturing in a report on Monday, March 17th. Finally, Oppenheimer boosted their price target on shares of Modine Manufacturing from $114.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd.

Institutional Investors Weigh In On Modine Manufacturing

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Modine Manufacturing by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 5,187,554 shares of the auto parts company’s stock worth $398,145,000 after purchasing an additional 128,587 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Modine Manufacturing by 293.7% in the 1st quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company’s stock worth $189,479,000 after purchasing an additional 1,841,640 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Modine Manufacturing by 1.0% in the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company’s stock worth $233,313,000 after purchasing an additional 20,085 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Modine Manufacturing by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company’s stock worth $166,937,000 after purchasing an additional 39,193 shares during the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of Modine Manufacturing by 108.0% in the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company’s stock worth $165,596,000 after purchasing an additional 741,667 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

MOD stock opened at $93.81 on Thursday. The firm has a 50 day moving average of $88.38 and a two-hundred day moving average of $99.36. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 0.71 and a beta of 2.06.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. The business had revenue of $647.20 million during the quarter, compared to analysts’ expectations of $633.13 million. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. Modine Manufacturing’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. As a group, equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has initiated a stock buyback plan on Friday, March 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.