Modine Manufacturing Company (NYSE:MOD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Modine Manufacturing Company (NYSE:MOD) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $320.1429.

MOD has been the topic of a number of research reports. KeyCorp reissued an “overweight” rating and set a $280.00 target price on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. DA Davidson reissued a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. B. Riley Financial reiterated a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. UBS Group increased their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th.

Institutional Trading of Modine Manufacturing

Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Modine Manufacturing during the 2nd quarter worth approximately $4,478,000. Lazard Asset Management LLC purchased a new stake in shares of Modine Manufacturing in the 1st quarter valued at approximately $1,722,000. Robinhood Asset Management LLC acquired a new position in Modine Manufacturing during the second quarter worth $8,848,000. Ranger Investment Management L.P. acquired a new position in Modine Manufacturing during the 1st quarter worth about $15,557,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Modine Manufacturing by 253.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 306,005 shares of the auto parts company’s stock worth $68,230,000 after purchasing an additional 219,373 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Up 1.2%

Modine Manufacturing stock traded up $2.19 during trading hours on Friday, hitting $187.05. The company had a trading volume of 102,099 shares, compared to its average volume of 1,370,496. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The firm has a market cap of $9.93 billion, a P/E ratio of 70.26, a P/E/G ratio of 0.59 and a beta of 1.74. The company has a 50-day moving average price of $202.58 and a two-hundred day moving average price of $231.84. Modine Manufacturing has a 1 year low of $111.18 and a 1 year high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. The business had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. On average, sell-side analysts anticipate that Modine Manufacturing will post 7.65 earnings per share for the current year.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal-management company that develops and manufactures products and systems for commercial, industrial, transportation, and building applications. Its solutions are designed to transfer and control heat, improve energy efficiency, and support the operation of engines, vehicles, data centers, and other equipment.

The company operates through businesses focused on climate solutions and performance technologies. Its products and services include heat exchangers, cooling modules, radiators, charge-air coolers, heating and air-conditioning systems, refrigeration and data-center cooling equipment, and thermal-management solutions for electric vehicles and other specialized applications.

Founded in 1916, Modine serves customers in markets worldwide through manufacturing, engineering, and sales operations across North America, Europe, and Asia.