DA Davidson Forecasts Strong Price Appreciation for Modine Manufacturing (NYSE:MOD) Stock

Modine Manufacturing (NYSE:MOD) had its price target hoisted by research analysts at DA Davidson from $255.00 to $265.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the auto parts company’s stock. DA Davidson’s price objective points to a potential upside of 20.69% from the company’s current price.

MOD has been the subject of a number of other research reports. Oppenheimer raised 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. KeyCorp raised their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. UBS Group began coverage on shares of 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, Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $213.25.

Modine Manufacturing Trading Up 1.8%

NYSE:MOD traded up $3.85 during mid-day trading on Monday, reaching $219.57. The company’s stock had a trading volume of 884,812 shares, compared to its average volume of 1,810,772. The company’s fifty day simple moving average is $148.62 and its two-hundred day simple moving average is $145.49. 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 has a twelve month low of $64.79 and a twelve month high of $224.70. The stock has a market cap of $11.58 billion, a P/E ratio of 122.06, a P/E/G ratio of 1.33 and a beta of 1.70.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS 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 company had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same period last year, the business posted $0.92 EPS. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, equities analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Activity at Modine Manufacturing

In related news, Director Suresh V. Garimella sold 1,100 shares of the firm’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 value of $202,477.00. Following the sale, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the sale, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. The trade was a 11.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 34,071 shares of company stock valued at $5,484,685. Insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Modine Manufacturing by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock worth $12,512,000 after purchasing an additional 9,989 shares during the period. Schear Investment Advisers LLC bought a new stake in Modine Manufacturing during the second quarter worth about $1,547,000. Principal Financial Group Inc. grew its stake in Modine Manufacturing by 0.9% during the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company’s stock worth $106,598,000 after buying an additional 6,847 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Modine Manufacturing by 390.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock valued at $2,397,000 after buying an additional 13,424 shares during the period. Finally, Pembroke Management LTD bought a new position in Modine Manufacturing in the 3rd quarter valued at about $30,506,000. 95.23% of the stock is owned by institutional investors and hedge funds.

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.