Modine Manufacturing (NYSE:MOD) Price Target Raised to $160.00 at KeyCorp

Modine Manufacturing (NYSE:MOD) had its price objective raised by KeyCorp from $150.00 to $160.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the auto parts company’s stock.

MOD has been the subject of a number of other reports. Oppenheimer upped their price target on Modine Manufacturing from $121.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, July 1st. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd.

Modine Manufacturing Price Performance

MOD stock opened at $139.50 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. The business has a 50 day simple moving average of $108.59 and a 200-day simple moving average of $94.53. The firm has a market capitalization of $7.32 billion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 0.88 and a beta of 2.12. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $146.84.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. The business had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. Equities research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Brian Jon Agen sold 47,939 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total value of $5,297,259.50. Following the completion of the transaction, the vice president directly owned 90,015 shares in the company, valued at approximately $9,946,657.50. This represents a 34.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael B. Lucareli sold 80,661 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $128.33, for a total value of $10,351,226.13. Following the completion of the transaction, the executive vice president owned 66,920 shares of the company’s stock, valued at $8,587,843.60. The trade was a 54.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,561 shares of company stock worth $25,462,844. Company insiders own 2.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MOD. GAMMA Investing LLC boosted its position in shares of Modine Manufacturing by 63.1% during the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock worth $28,000 after buying an additional 142 shares during the period. Bessemer Group Inc. boosted its position in shares of Modine Manufacturing by 9,728.6% during the first quarter. Bessemer Group Inc. now owns 3,440 shares of the auto parts company’s stock worth $264,000 after buying an additional 3,405 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Modine Manufacturing by 159.7% during the first quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company’s stock worth $766,000 after buying an additional 6,134 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Modine Manufacturing by 384.3% during the first quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company’s stock worth $65,089,000 after buying an additional 672,960 shares during the period. Finally, KBC Group NV boosted its position in shares of Modine Manufacturing by 16.0% during the first quarter. KBC Group NV now owns 2,411 shares of the auto parts company’s stock worth $185,000 after buying an additional 333 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

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.