Modine Manufacturing (NYSE:MOD) Given New $265.00 Price Target at DA Davidson

Modine Manufacturing (NYSE:MOD) had its price objective boosted by DA Davidson from $255.00 to $265.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

MOD has been the topic of a number of other reports. UBS Group started coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 price objective on the stock. KeyCorp raised 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. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Oppenheimer raised their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Modine Manufacturing presently has an average rating of “Buy” and an average target price of $213.25.

Modine Manufacturing Stock Performance

MOD opened at $219.27 on Monday. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 121.82, a P/E/G ratio of 1.33 and a beta of 1.70. The business’s 50-day moving average price is $149.83 and its two-hundred day moving average price is $146.34. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $224.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28.

Modine Manufacturing (NYSE:MOD) last posted 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. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The company had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $763.54 million. During the same period in the prior year, the firm earned $0.92 earnings per share. Modine Manufacturing’s revenue for the quarter was up 30.5% compared to the same quarter last year. Equities analysts expect that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Insider Activity

In other news, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction on Monday, February 2nd. The shares were 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 in the company, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,071 shares of company stock valued at $5,484,685 over the last quarter. 2.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Modine Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Modine Manufacturing by 26.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after buying an additional 7,831 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Modine Manufacturing by 24.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,430 shares of the auto parts company’s stock valued at $1,224,000 after acquiring an additional 2,454 shares during the period. Truist Financial Corp raised its holdings in Modine Manufacturing by 12.7% in the 2nd quarter. Truist Financial Corp now owns 10,194 shares of the auto parts company’s stock valued at $1,004,000 after acquiring an additional 1,147 shares during the period. KLP Kapitalforvaltning AS lifted its position in Modine Manufacturing by 7.9% during the second quarter. KLP Kapitalforvaltning AS now owns 10,900 shares of the auto parts company’s stock worth $1,074,000 after acquiring an additional 800 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of Modine Manufacturing during the second quarter worth approximately $1,097,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.