Modine Manufacturing (NYSE:MOD) Receives “Buy” Rating from DA Davidson

DA Davidson reissued their buy rating on shares of Modine Manufacturing (NYSE:MOD) in a research note published on Thursday,Benzinga reports. DA Davidson currently has a $200.00 target price on the auto parts company’s stock.

Several other analysts have also recently weighed in on MOD. UBS Group began coverage on shares of Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price on the stock. Oppenheimer upped their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Finally, KeyCorp increased their target price on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Modine Manufacturing Stock Performance

Shares of MOD opened at $176.79 on Thursday. Modine Manufacturing has a one year low of $64.79 and a one year high of $182.85. The stock has a market cap of $9.31 billion, a P/E ratio of 51.09, a P/E/G ratio of 0.93 and a beta of 1.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. The stock has a 50-day moving average of $143.25 and a two-hundred day moving average of $140.38.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.09. The firm had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 earnings per share. As a group, research analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $150.00, for a total transaction of $165,000.00. Following the completion of the transaction, the director directly owned 80,956 shares in the company, valued at approximately $12,143,400. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil David Brinker sold 31,871 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of MOD. Allspring Global Investments Holdings LLC lifted its position in shares of Modine Manufacturing by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company’s stock worth $12,512,000 after purchasing an additional 9,989 shares in the last quarter. Schear Investment Advisers LLC bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth about $1,547,000. Y Intercept Hong Kong Ltd increased its holdings in Modine Manufacturing by 390.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company’s stock valued at $2,397,000 after buying an additional 13,424 shares during the last quarter. Pembroke Management LTD bought a new stake in shares of Modine Manufacturing in the 3rd quarter valued at approximately $30,506,000. Finally, Park Avenue Securities LLC bought a new stake in Modine Manufacturing during the second quarter valued at $260,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Key Modine Manufacturing News

Here are the key news stories impacting Modine Manufacturing this week:

• Positive Sentiment: Strategic combination: Modine and Gentherm announced a ~ $1.0B Reverse Morris Trust transaction to combine Modine’s Performance Technologies business with Gentherm, creating a larger thermal-management player with expected substantial synergies, a more balanced end-market mix (less light-vehicle concentration), and Modine shareholders owning ~40% of the combined company. The structure is framed as accelerating Modine’s transformation into a higher-margin climate-solutions pure play. Gentherm and Modine Release
• Positive Sentiment: Market reaction: Media reported Modine shares jumped as the merger deal with Gentherm “takes shape,” reflecting investor enthusiasm and higher trading volume on the strategic combination news. MSN: Shares Jump
• Positive Sentiment: Analyst support: DA Davidson reaffirmed a “buy” rating and set a $200 price target, signaling ~mid-teens upside from current levels and giving investors an independent bullish valuation anchor. Benzinga: DA Davidson
• Neutral Sentiment: Management detail: Seeking Alpha published transcripts of Modine’s M&A call and a separate spin-off/combination discussion, which provide context on transaction mechanics, timing and management rationale — useful for investors seeking specifics but not new headline news. M&A Call Transcript Spin-Off Transcript
• Neutral Sentiment: Analyst commentary roundup: Zacks ran a piece on whether Modine is worth investing in given recent bullish analyst views — helpful for perspective but not a primary driver of today’s move. Zacks: Analyst Views
• Neutral Sentiment: Earnings schedule: A reminder that Modine will report quarterly earnings shortly, which remains a potential near-term catalyst but is routine scheduling news. Earnings Release Notice

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.