Modine Manufacturing (NYSE:MOD) Receives Buy Rating from DA Davidson

DA Davidson restated their buy rating on shares of Modine Manufacturing (NYSE:MOD) in a research note published on Monday,Benzinga reports. They currently have a $185.00 target price on the auto parts company’s stock.

Several other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. KeyCorp upped their price target on shares of Modine Manufacturing from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, Oppenheimer upped their price target on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, July 1st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $155.67.

Modine Manufacturing Stock Up 2.0%

Shares of NYSE MOD opened at $141.41 on Monday. Modine Manufacturing has a 12-month low of $64.79 and a 12-month high of $159.54. The company has a market capitalization of $7.42 billion, a PE ratio of 40.52, a price-to-earnings-growth ratio of 0.88 and a beta of 2.09. 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 firm’s 50-day moving average is $135.84 and its two-hundred day moving average is $105.89.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The company had revenue of $682.80 million for the quarter, compared to the consensus estimate of $653.80 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Modine Manufacturing has set its FY 2026 guidance at EPS. Equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In related news, VP Brian Jon Agen sold 47,939 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total transaction of $5,297,259.50. Following the transaction, the vice president owned 90,015 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, insider Eric S. Mcginnis sold 25,173 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $140.86, for a total transaction of $3,545,868.78. Following the transaction, the insider directly owned 19,966 shares in the company, valued at $2,812,410.76. The trade was a 55.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 239,938 shares of company stock valued at $31,001,392. 2.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in 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 purchasing an additional 142 shares during the last quarter. Versant Capital Management Inc increased its position in Modine Manufacturing by 245.9% during the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 405 shares during the last quarter. Maseco LLP acquired a new position in Modine Manufacturing during the second quarter worth approximately $51,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Modine Manufacturing during the second quarter worth approximately $57,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

About Modine Manufacturing

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.