Oppenheimer Boosts Modine Manufacturing (NYSE:MOD) Price Target to $135.00

Modine Manufacturing (NYSE:MOD) had its target price hoisted by analysts at Oppenheimer from $114.00 to $135.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the auto parts company’s stock. Oppenheimer’s price objective would suggest a potential upside of 17.49% from the company’s previous close.

A number of other analysts have also weighed in on the stock. DA Davidson upped their target price on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. B. Riley raised their price objective on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Finally, William Blair assumed coverage on shares of Modine Manufacturing in a research note on Monday. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $138.33.

Modine Manufacturing Trading Down 2.3 %

Modine Manufacturing stock traded down $2.76 during trading on Thursday, hitting $114.90. The company had a trading volume of 245,013 shares, compared to its average volume of 939,568. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.53. Modine Manufacturing has a 1-year low of $37.34 and a 1-year high of $123.92. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 37.92, a price-to-earnings-growth ratio of 0.79 and a beta of 2.27. The company’s 50 day simple moving average is $101.52 and its 200-day simple moving average is $91.81.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 25.57% and a net margin of 6.70%. The firm had revenue of $661.50 million during the quarter, compared to analyst estimates of $633.55 million. During the same period last year, the business posted $0.85 earnings per share. Modine Manufacturing’s revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that Modine Manufacturing will post 3.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

Several large investors have recently modified their holdings of MOD. Vanguard Group Inc. boosted its stake in Modine Manufacturing by 27.3% during the 1st quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock worth $372,099,000 after purchasing an additional 838,460 shares during the period. Hennessy Advisors Inc. acquired a new position in Modine Manufacturing in the 4th quarter valued at about $35,414,000. Capital International Investors increased its holdings in shares of Modine Manufacturing by 40.6% in the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock valued at $135,726,000 after purchasing an additional 411,946 shares during the period. F M Investments LLC purchased a new position in Modine Manufacturing during the 2nd quarter worth $22,600,000. Finally, Axiom Investors LLC DE lifted its position in Modine Manufacturing by 286.0% in the fourth quarter. Axiom Investors LLC DE now owns 281,690 shares of the auto parts company’s stock valued at $16,817,000 after purchasing an additional 208,715 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.