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

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $330.00 target price on the auto parts company’s stock. DA Davidson’s target price suggests a potential upside of 79.37% from the company’s previous close.

Several other analysts have also recently commented on MOD. KeyCorp restated an “overweight” rating and set a $280.00 price objective on shares of Modine Manufacturing in a research note on Wednesday, September 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Tuesday, August 25th. Glj Research reiterated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. 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 research note on Thursday, July 30th. Finally, Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Modine Manufacturing has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Stock Performance

Shares of NYSE MOD traded up $8.94 during midday trading on Tuesday, reaching $183.98. The company had a trading volume of 866,320 shares, compared to its average volume of 1,383,658. The business’s 50-day simple moving average is $197.01 and its 200 day simple moving average is $231.09. The stock has a market cap of $9.77 billion, a P/E ratio of 69.02, a P/E/G ratio of 0.65 and a beta of 1.74. Modine Manufacturing has a 1 year low of $111.18 and a 1 year high of $323.25. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39.

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

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Modine Manufacturing in the first quarter valued at about $25,000. Rakuten Securities Inc. purchased a new position in Modine Manufacturing during the second quarter worth about $40,000. PenderFund Capital Management Ltd. purchased a new position in Modine Manufacturing during the second quarter worth about $42,000. Vega Investment Solutions purchased a new position in Modine Manufacturing during the second quarter worth about $52,000. Finally, TD Waterhouse Canada Inc. purchased a new position in Modine Manufacturing during the second quarter worth about $55,000. Hedge funds and other institutional investors 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.