Modine Manufacturing (NYSE:MOD) Upgraded to “Strong-Buy” at Robert W. Baird

Robert W. Baird upgraded shares of Modine Manufacturing (NYSE:MOD) to a strong-buy rating in a research note released on Monday,Zacks reports.

MOD has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. B. Riley Financial restated a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. KeyCorp reaffirmed an “overweight” rating and issued a $280.00 target price on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Oppenheimer decreased their target price on Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, October 2nd. Finally, DA Davidson reissued a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research note on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average target price of $309.50.

Modine Manufacturing Price Performance

MOD stock opened at $189.16 on Monday. Modine Manufacturing has a one year low of $111.18 and a one year high of $323.25. The company’s fifty day moving average price is $190.68 and its 200-day moving average price is $230.62. 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 company has a market capitalization of $10.05 billion, a PE ratio of 71.11, a price-to-earnings-growth ratio of 0.60 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. The firm had revenue of $874.10 million during 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%. Modine Manufacturing’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. On average, equities analysts anticipate that Modine Manufacturing will post 7.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Argent Capital Management LLC raised its position in Modine Manufacturing by 2.4% during the third quarter. Argent Capital Management LLC now owns 6,712 shares of the auto parts company’s stock valued at $1,256,000 after purchasing an additional 159 shares during the period. Cim Investment Management Inc. raised its holdings in shares of Modine Manufacturing by 7.6% in the 2nd quarter. Cim Investment Management Inc. now owns 1,853 shares of the auto parts company’s stock valued at $495,000 after purchasing an additional 131 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Modine Manufacturing during the second quarter valued at approximately $248,000. Tidal Investments LLC raised its stake in Modine Manufacturing by 52.6% in the second quarter. Tidal Investments LLC now owns 159,453 shares of the auto parts company’s stock worth $42,577,000 after buying an additional 54,960 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Modine Manufacturing during the 2nd quarter valued at $6,188,000. Institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company’s products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.