Modine Manufacturing (NYSE:MOD) Given New $145.00 Price Target at Oppenheimer

Modine Manufacturing (NYSE:MOD) had its price target upped by Oppenheimer from $144.00 to $145.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

Other research analysts have also recently issued reports about the company. William Blair initiated coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating on the stock. B. Riley upped their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, DA Davidson increased their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Stock Down 5.2 %

NYSE MOD opened at $111.63 on Thursday. The business’s fifty day simple moving average is $122.85 and its 200-day simple moving average is $108.66. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.86 billion, a PE ratio of 36.60, a P/E/G ratio of 0.90 and a beta of 2.25. Modine Manufacturing has a 52 week low of $39.50 and a 52 week high of $141.72.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. Modine Manufacturing’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. As a group, equities analysts anticipate that Modine Manufacturing will post 3.85 earnings per share for the current year.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MOD. Assetmark Inc. lifted its holdings in Modine Manufacturing by 176.5% during the 3rd quarter. Assetmark Inc. now owns 8,894 shares of the auto parts company’s stock worth $1,181,000 after buying an additional 5,677 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Modine Manufacturing during the third quarter worth $21,195,000. Principal Financial Group Inc. raised its stake in shares of Modine Manufacturing by 2.4% in the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock valued at $153,072,000 after acquiring an additional 26,527 shares in the last quarter. Walkner Condon Financial Advisors LLC purchased a new position in Modine Manufacturing in the third quarter valued at $266,000. Finally, Marks Group Wealth Management Inc acquired a new position in Modine Manufacturing during the 3rd quarter worth $237,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.