Modine Manufacturing Company (NYSE:MOD) Receives $182.00 Consensus Price Target from Brokerages

Shares of Modine Manufacturing Company (NYSE:MOD) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $182.00.

Several equities research analysts have recently weighed in on the stock. UBS Group began coverage on shares of Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Oppenheimer boosted their price target on Modine Manufacturing from $145.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Finally, KeyCorp raised their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th.

Insider Activity at Modine Manufacturing

In other news, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently bought and sold shares of MOD. Parkside Financial Bank & Trust grew its holdings in Modine Manufacturing by 17.6% in the third quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 75 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Modine Manufacturing by 0.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock worth $1,290,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Modine Manufacturing by 5.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company’s stock worth $154,000 after buying an additional 105 shares during the last quarter. Intrust Bank NA increased its position in Modine Manufacturing by 2.3% during the 3rd quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock valued at $699,000 after buying an additional 109 shares in the last quarter. Finally, BCS Private Wealth Management Inc. raised its stake in Modine Manufacturing by 2.8% in the third quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock valued at $643,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $135.86 on Wednesday. The company’s 50-day simple moving average is $150.89 and its two-hundred day simple moving average is $132.28. The company has a market capitalization of $7.15 billion, a P/E ratio of 39.27, a P/E/G ratio of 0.85 and a beta of 1.69. Modine Manufacturing has a one year low of $64.79 and a one year high of $166.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company had revenue of $738.90 million during the quarter, compared to analyst estimates of $699.91 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

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.