Brokerages Set Modine Manufacturing Company (NYSE:MOD) Price Target at $223.20

Shares of Modine Manufacturing Company (NYSE:MOD) have received an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $223.20.

MOD has been the subject of several analyst reports. Oppenheimer raised their target price on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. DA Davidson increased their price objective on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Roth Mkm started coverage on Modine Manufacturing in a report 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 note on Monday, December 29th. Finally, Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd.

Insiders Place Their Bets

In other news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the sale, the director owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

A number of large investors have recently bought and sold shares of MOD. Capital Research Global Investors bought a new position in Modine Manufacturing in the 3rd quarter valued at $184,610,000. Invesco Ltd. grew its holdings 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 worth $176,037,000 after purchasing an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Modine Manufacturing by 31.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after buying an additional 560,131 shares in the last quarter. WT Asset Management Ltd bought a new position in shares of Modine Manufacturing in the fourth quarter valued at about $69,255,000. Finally, Congress Asset Management Co. raised its holdings in shares of Modine Manufacturing by 954.8% in the third quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock valued at $74,987,000 after buying an additional 477,473 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Trading Down 0.1%

Shares of MOD stock opened at $213.83 on Friday. The firm has a fifty day moving average of $199.82 and a 200-day moving average of $165.11. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 118.80, a P/E/G ratio of 1.31 and a beta of 1.66. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $243.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. On average, equities research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal 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.