Modine Manufacturing (NYSE:MOD) Reaches New 1-Year High on Analyst Upgrade

Modine Manufacturing Company (NYSE:MOD) shares reached a new 52-week high on Tuesday after DA Davidson raised their price target on the stock from $255.00 to $265.00. DA Davidson currently has a buy rating on the stock. Modine Manufacturing traded as high as $224.70 and last traded at $219.27, with a volume of 1496747 shares changing hands. The stock had previously closed at $215.72.

A number of other research firms also recently weighed in on MOD. KeyCorp increased their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Oppenheimer upped their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. UBS Group started coverage on Modine Manufacturing in a research report on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of “Buy” and a consensus price target of $213.25.

Insiders Place Their Bets

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value 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 approximately $38,263,374.72. This represents a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,071 shares of company stock valued at $5,484,685 over the last ninety days. Corporate insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

A number of large investors have recently modified their holdings of MOD. Spire Wealth Management bought a new stake in Modine Manufacturing during the 4th quarter worth approximately $27,000. First Horizon Corp bought a new position in Modine Manufacturing in the 3rd quarter valued at $38,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing during the 3rd quarter valued at $39,000. Parkside Financial Bank & Trust increased its holdings in shares of Modine Manufacturing by 2,025.0% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 405 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Modine Manufacturing in the third quarter worth $43,000. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Up 1.6%

The company has a market cap of $11.56 billion, a PE ratio of 121.82, a P/E/G ratio of 1.33 and a beta of 1.70. The stock has a 50-day moving average of $149.83 and a 200-day moving average of $146.34. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

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

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.