Modine Manufacturing (NYSE:MOD) Receives Average Rating of “Buy” from Analysts

Modine Manufacturing (NYSE:MOD) has earned an average recommendation of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $135.25.

MOD has been the subject of several recent analyst reports. Oppenheimer upped their price objective on shares of Modine Manufacturing from $114.00 to $121.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. KeyCorp initiated coverage on shares of Modine Manufacturing in a report on Thursday, June 12th. They set an “overweight” rating and a $125.00 price objective for the company. DA Davidson reaffirmed a “buy” rating and set a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th. Finally, Wall Street Zen raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, June 7th.

Institutional Trading of Modine Manufacturing

Hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Modine Manufacturing by 63.1% in the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company’s stock valued at $28,000 after buying an additional 142 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Modine Manufacturing by 245.9% in the 1st quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company’s stock valued at $32,000 after buying an additional 300 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after buying an additional 269 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Modine Manufacturing in the 1st quarter valued at $46,000. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Stock Performance

MOD stock opened at $96.01 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 0.71 and a beta of 2.06. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84. The firm has a 50 day moving average of $88.87 and a two-hundred day moving average of $98.85.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. The company had revenue of $647.20 million during the quarter, compared to the consensus estimate of $633.13 million. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. As a group, equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Modine Manufacturing announced that its Board of Directors has authorized a share repurchase plan on Friday, March 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.