Analysts Set Modine Manufacturing Company (NYSE:MOD) Price Target at $192.00

Shares of Modine Manufacturing Company (NYSE:MOD) have received a consensus rating of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $213.25.

A number of research firms have commented on MOD. UBS Group began coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective on the stock. Oppenheimer upped their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, KeyCorp increased their target price on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $219.27 on Thursday. The firm has a 50-day moving average of $149.83 and a two-hundred day moving average of $146.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.28. The stock has a market cap of $11.56 billion, a P/E ratio of 121.82, a PEG ratio of 1.33 and a beta of 1.70. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $224.70.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up 30.5% compared to the same quarter last year. On average, research analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the sale, the director owned 79,856 shares in the company, valued at $14,699,093.92. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $160.56, for a total value of $5,117,207.76. Following the completion of the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at approximately $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 34,071 shares of company stock valued at $5,484,685. 2.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds have recently added to or reduced their stakes in MOD. Capital Research Global Investors bought a new stake in shares of Modine Manufacturing during the third quarter valued at approximately $184,610,000. Champlain Investment Partners LLC boosted its position in Modine Manufacturing by 244.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock worth $73,249,000 after acquiring an additional 527,626 shares during the period. WT Asset Management Ltd bought a new position in shares of Modine Manufacturing in the fourth quarter worth $69,255,000. Congress Asset Management Co. increased its holdings in shares of Modine Manufacturing by 954.8% during the third quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock valued at $74,987,000 after purchasing an additional 477,473 shares during the period. Finally, Van Berkom & Associates Inc. raised its stake in shares of Modine Manufacturing by 3,145.2% during the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company’s stock valued at $58,222,000 after purchasing an additional 422,646 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

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.