Modine Manufacturing (NYSE:MOD) Reaches New 12-Month High on Analyst Upgrade

Modine Manufacturing Company (NYSE:MOD)’s share price hit a new 52-week high during mid-day trading on Tuesday after DA Davidson raised their price target on the stock from $255.00 to $265.00. DA Davidson currently has a buy rating on the stock. Modine Manufacturing traded as high as $224.70 and last traded at $219.27, with a volume of 1496747 shares trading hands. The stock had previously closed at $215.72.

Several other analysts have also recently weighed in on the stock. Oppenheimer raised their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group initiated coverage on Modine Manufacturing in a research note on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price on the stock. KeyCorp lifted their price target on Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Finally, Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing currently has an average rating of “Buy” and an average price target of $213.25.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 34,071 shares of company stock valued at $5,484,685 over the last three months. 2.48% of the stock is currently owned by insiders.

Institutional Trading of Modine Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Modine Manufacturing by 26.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Modine Manufacturing by 24.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 12,430 shares of the auto parts company’s stock valued at $1,224,000 after buying an additional 2,454 shares during the period. Truist Financial Corp grew its holdings in Modine Manufacturing by 12.7% in the 2nd quarter. Truist Financial Corp now owns 10,194 shares of the auto parts company’s stock worth $1,004,000 after acquiring an additional 1,147 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Modine Manufacturing by 7.9% in the second quarter. KLP Kapitalforvaltning AS now owns 10,900 shares of the auto parts company’s stock valued at $1,074,000 after acquiring an additional 800 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in shares of Modine Manufacturing in the second quarter valued at about $1,097,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Trading Up 1.6%

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 firm’s 50 day moving average price is $149.83 and its 200 day moving average price is $146.34. The stock has a market capitalization of $11.56 billion, a P/E ratio of 121.82, a P/E/G ratio of 1.33 and a beta of 1.70.

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

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.