Glj Research Begins Coverage on Modine Manufacturing (NYSE:MOD)

Analysts at Glj Research assumed coverage on shares of Modine Manufacturing (NYSE:MOD) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “buy” rating and a $290.00 price target on the auto parts company’s stock. Glj Research’s price objective would suggest a potential upside of 33.97% from the company’s current price.

Several other brokerages have also recently weighed in on MOD. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. DA Davidson raised their target price on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Oppenheimer lifted their target price on Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Finally, Roth Mkm initiated coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $234.33.

Modine Manufacturing Stock Performance

NYSE:MOD opened at $216.47 on Monday. The stock’s 50-day moving average is $202.74 and its 200-day moving average is $165.97. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $243.80. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The stock has a market cap of $11.41 billion, a P/E ratio of 120.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67.

Modine Manufacturing (NYSE:MOD) last posted its 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 net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same period last year, the company earned $0.92 EPS. The firm’s revenue was up 30.5% compared to the same quarter last year. Equities research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

Insider Activity

In other news, Director Suresh V. Garimella sold 1,100 shares of the business’s 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 directly owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.48% of the stock is owned by corporate insiders.

Institutional Trading of Modine Manufacturing

Several hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC boosted its stake in Modine Manufacturing by 113.6% during the fourth quarter. Hsbc Holdings PLC now owns 5,086 shares of the auto parts company’s stock worth $679,000 after acquiring an additional 2,705 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Modine Manufacturing by 135.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,972 shares of the auto parts company’s stock worth $263,000 after purchasing an additional 1,135 shares during the period. World Investment Advisors bought a new stake in Modine Manufacturing in the fourth quarter valued at $211,000. DUTCH ASSET Corp acquired a new position in shares of Modine Manufacturing during the fourth quarter valued at about $1,124,000. Finally, Aristides Capital LLC raised its holdings in shares of Modine Manufacturing by 3.0% during the fourth quarter. Aristides Capital LLC now owns 6,803 shares of the auto parts company’s stock valued at $908,000 after purchasing an additional 201 shares during the period. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.