Oppenheimer Increases Modine Manufacturing (NYSE:MOD) Price Target to $144.00

Modine Manufacturing (NYSE:MOD) had its price target upped by Oppenheimer from $135.00 to $144.00 in a research report report published on Monday, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

A number of other research analysts have also recently commented on the company. William Blair started coverage on Modine Manufacturing in a report on Monday, July 29th. They issued an “outperform” rating on the stock. DA Davidson boosted 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. Finally, B. Riley boosted their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $146.33.

Modine Manufacturing Trading Up 1.1 %

Shares of MOD stock opened at $135.64 on Monday. The stock has a fifty day simple moving average of $119.04 and a two-hundred day simple moving average of $106.08. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $141.72. The firm has a market capitalization of $7.11 billion, a PE ratio of 44.77, a PEG ratio of 1.02 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insider Transactions at Modine Manufacturing

In other news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Trading of Modine Manufacturing

Hedge funds have recently modified their holdings of the company. Harbour Capital Advisors LLC increased its position in shares of Modine Manufacturing by 77.2% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,095 shares of the auto parts company’s stock valued at $683,000 after purchasing an additional 2,220 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Modine Manufacturing during the 3rd quarter valued at approximately $230,000. Creative Planning increased its position in shares of Modine Manufacturing by 52.3% during the 3rd quarter. Creative Planning now owns 14,764 shares of the auto parts company’s stock valued at $1,961,000 after purchasing an additional 5,068 shares during the last quarter. Oliver Luxxe Assets LLC increased its position in shares of Modine Manufacturing by 33.8% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 51,120 shares of the auto parts company’s stock valued at $6,788,000 after purchasing an additional 12,904 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of Modine Manufacturing during the 3rd quarter valued at approximately $199,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

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.