Modine Manufacturing Company (NYSE:MOD) Receives $223.20 Average Price Target from Analysts

Shares of Modine Manufacturing Company (NYSE:MOD) have been given an average recommendation of “Buy” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $223.20.

A number of research firms have recently commented on MOD. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Roth Mkm assumed coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. DA Davidson lifted their price target on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, UBS Group started coverage on Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective for the company.

Modine Manufacturing Stock Down 1.2%

Shares of MOD opened at $209.87 on Monday. The firm has a market cap of $11.07 billion, a P/E ratio of 116.60, a PEG ratio of 1.30 and a beta of 1.67. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $243.80. The stock’s 50 day moving average is $175.16 and its two-hundred day moving average is $157.11. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

Large investors have recently modified their holdings of the business. Aristides Capital LLC raised its holdings in Modine Manufacturing by 3.0% in the 4th quarter. Aristides Capital LLC now owns 6,803 shares of the auto parts company’s stock valued at $908,000 after buying an additional 201 shares during the period. MidFirst Bank purchased a new position in Modine Manufacturing during the fourth quarter worth about $177,000. Invesco Ltd. increased its position in shares of Modine Manufacturing by 120.4% during the fourth quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after acquiring an additional 720,389 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Modine Manufacturing by 32.3% during the fourth quarter. Corient Private Wealth LLC now owns 10,050 shares of the auto parts company’s stock valued at $1,352,000 after acquiring an additional 2,453 shares during the last quarter. Finally, Delta Global Management LP purchased a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $1,239,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.