Modine Manufacturing (NYSE:MOD) Stock Rating Reaffirmed as Buy by DA Davidson

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $330.00 price objective on the auto parts company’s stock. DA Davidson’s price target suggests a potential upside of 79.66% from the company’s previous close.

A number of other brokerages also recently commented on MOD. Glj Research reiterated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. B. Riley Financial reissued a “buy” rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. KeyCorp reissued an “overweight” rating and issued a $280.00 target price on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research report on Tuesday, August 25th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing Price Performance

Modine Manufacturing stock traded up $8.64 during mid-day trading on Tuesday, hitting $183.68. 1,838,920 shares of the company were exchanged, compared to its average volume of 1,389,097. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The business’s 50 day simple moving average is $197.01 and its two-hundred day simple moving average is $231.09. The company has a market capitalization of $9.76 billion, a P/E ratio of 69.05, a PEG ratio of 0.65 and a beta of 1.74. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.26. The company had revenue of $874.10 million during the quarter, compared to the consensus estimate of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.Modine Manufacturing’s revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. Analysts forecast that Modine Manufacturing will post 7.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Modine Manufacturing during the 2nd quarter valued at about $765,540,000. Paradigm Capital Management Inc. NY acquired a new position in Modine Manufacturing during the 2nd quarter valued at about $388,140,000. Capital Research Global Investors increased its stake in Modine Manufacturing by 13.8% during the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock valued at $197,358,000 after buying an additional 179,617 shares during the period. Jupiter Topco LLC bought a new position in shares of Modine Manufacturing during the 2nd quarter valued at about $123,873,000. Finally, Blue Whale Capital LLP acquired a new stake in shares of Modine Manufacturing during the 2nd quarter valued at $123,747,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

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.