Brokerages Set Modine Manufacturing Company (NYSE:MOD) PT at $192.00

Shares of Modine Manufacturing Company (NYSE:MOD) have earned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $197.00.

Several equities research analysts recently weighed in on 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 report on Friday. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. UBS Group started coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. DA Davidson reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Modine Manufacturing in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $215.80 on Thursday. Modine Manufacturing has a one year low of $64.79 and a one year high of $220.42. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 119.89, a PEG ratio of 1.37 and a beta of 1.71. The company has a 50-day simple moving average of $148.62 and a 200-day simple moving average of $145.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00.

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, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a return on equity of 23.74% and a net margin of 3.40%.The business’s revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. On average, analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm’s 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the completion of the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This represents a 11.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,071 shares of company stock valued at $5,484,685 in the last quarter. 2.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in MOD. Vanguard Group Inc. lifted its stake in shares of Modine Manufacturing by 1.9% during the third quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company’s stock valued at $722,297,000 after buying an additional 97,035 shares during the period. Wasatch Advisors LP grew its stake in Modine Manufacturing by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after acquiring an additional 23,955 shares during the period. State Street Corp raised its holdings in Modine Manufacturing by 4.2% in the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after acquiring an additional 53,351 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Modine Manufacturing during the 3rd quarter worth $184,610,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Modine Manufacturing by 1.2% during the second quarter. Geode Capital Management LLC now owns 1,214,976 shares of the auto parts company’s stock worth $119,690,000 after purchasing an additional 14,096 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

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.