Modine Manufacturing (NYSE:MOD) Now Covered by Analysts at Glj Research

Glj Research started coverage on shares of Modine Manufacturing (NYSE:MOD) in a research report report published on Monday,Benzinga reports. The firm issued a buy rating and a $290.00 price objective on the auto parts company’s stock.

Other equities research analysts have also issued reports about the company. Oppenheimer increased their price target on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, DA Davidson raised their target price on Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Modine Manufacturing has an average rating of “Buy” and a consensus target price of $234.33.

Modine Manufacturing Trading Down 5.4%

Shares of MOD stock opened at $202.37 on Monday. The company has a market capitalization of $10.67 billion, a P/E ratio of 112.43, a P/E/G ratio of 1.31 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 company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $201.14 and a 200 day moving average price of $165.50.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Activity at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the sale, the director directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

Several hedge funds have recently added to or reduced their stakes in MOD. Parkside Financial Bank & Trust raised its holdings in Modine Manufacturing by 17.6% during the 3rd 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. Xponance LLC boosted its stake in shares of Modine Manufacturing by 1.7% in the 4th quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock valued at $591,000 after purchasing an additional 75 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Modine Manufacturing by 3.4% in the 4th quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock valued at $421,000 after purchasing an additional 103 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Modine Manufacturing by 18.3% during the 4th quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company’s stock worth $91,000 after buying an additional 105 shares during the period. Finally, Intrust Bank NA grew its position in shares of Modine Manufacturing by 2.3% during the 3rd quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock worth $699,000 after buying an additional 109 shares during the period. Institutional investors own 95.23% of the company’s stock.

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.