Modine Manufacturing (NYSE:MOD) Price Target Raised to $140.00

Modine Manufacturing (NYSE:MOD) had its price objective hoisted by B. Riley from $125.00 to $140.00 in a research note released on Thursday morning, Marketbeat Ratings reports. B. Riley currently has a buy rating on the auto parts company’s stock.

Several other equities analysts have also recently issued reports on MOD. Oppenheimer raised their price objective on Modine Manufacturing from $105.00 to $110.00 and gave the stock an outperform rating in a research note on Thursday, May 23rd. William Blair started coverage on shares of Modine Manufacturing in a research note on Monday, July 29th. They issued an outperform rating on the stock. Finally, DA Davidson lifted their price objective on shares of Modine Manufacturing from $110.00 to $120.00 and gave the company a buy rating in a research note on Friday, May 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $138.33.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $98.80 on Thursday. Modine Manufacturing has a 1-year low of $38.50 and a 1-year high of $123.92. The stock has a market cap of $5.18 billion, a P/E ratio of 32.61, a PEG ratio of 0.86 and a beta of 2.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 0.98. The firm has a 50-day moving average of $101.72 and a two-hundred day moving average of $92.38.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The company had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. During the same period in the previous year, the business earned $0.85 EPS. Modine Manufacturing’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts expect that Modine Manufacturing will post 3.81 earnings per share for the current fiscal year.

Institutional Trading of Modine Manufacturing

A number of hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. purchased a new position in Modine Manufacturing in the fourth quarter valued at about $29,000. Strid Group LLC bought a new stake in shares of Modine Manufacturing in the 1st quarter valued at approximately $33,000. Acadian Asset Management LLC bought a new position in Modine Manufacturing during the first quarter valued at approximately $37,000. Opal Wealth Advisors LLC acquired a new stake in Modine Manufacturing in the second quarter valued at approximately $51,000. Finally, West Oak Capital LLC grew its position in Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after acquiring an additional 450 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

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.