Modine Manufacturing (NYSE:MOD) Now Covered by Analysts at Roth Mkm

Roth Mkm began coverage on shares of Modine Manufacturing (NYSE:MOD) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $263.00 price target on the auto parts company’s stock.

A number of other analysts have also recently weighed in on the stock. DA Davidson increased their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Oppenheimer raised their price target on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, 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 on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Modine Manufacturing has a consensus rating of “Buy” and an average price target of $223.20.

Modine Manufacturing Stock Up 0.2%

Shares of NYSE:MOD opened at $217.19 on Wednesday. Modine Manufacturing has a 12-month low of $64.79 and a 12-month high of $235.02. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The firm has a market cap of $11.45 billion, a PE ratio of 120.66, a price-to-earnings-growth ratio of 1.33 and a beta of 1.71. The company has a fifty day simple moving average of $158.06 and a 200 day simple moving average of $151.05.

Modine Manufacturing (NYSE:MOD) last released its earnings results 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 company had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The company’s revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, equities research analysts anticipate 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 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 in the company, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Suresh V. Garimella sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was 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 in the company, valued at $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 34,071 shares of company stock valued at $5,484,685. Insiders own 2.48% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds have recently modified their holdings of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Modine Manufacturing by 26.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Modine Manufacturing by 3.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,602 shares of the auto parts company’s stock worth $453,000 after purchasing an additional 165 shares in the last quarter. CWM LLC increased its stake in Modine Manufacturing by 708.4% in the 2nd quarter. CWM LLC now owns 1,827 shares of the auto parts company’s stock worth $180,000 after purchasing an additional 1,601 shares in the last quarter. Ethic Inc. raised its holdings in Modine Manufacturing by 5.8% during the 2nd quarter. Ethic Inc. now owns 3,396 shares of the auto parts company’s stock worth $344,000 after buying an additional 185 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in Modine Manufacturing by 11.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 42,870 shares of the auto parts company’s stock valued at $4,223,000 after buying an additional 4,442 shares in the last quarter. 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.