DA Davidson Reiterates “Buy” Rating for Modine Manufacturing (NYSE:MOD)

Modine Manufacturing (NYSE:MOD)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a research note issued on Tuesday,Benzinga reports. They currently have a $265.00 price target on the auto parts company’s stock. DA Davidson’s price target indicates a potential upside of 18.97% from the company’s previous close.

MOD has been the subject of several other research reports. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. Oppenheimer lifted their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Roth Mkm assumed coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price on the stock. Finally, Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $234.33.

Modine Manufacturing Stock Performance

Shares of MOD opened at $222.75 on Tuesday. Modine Manufacturing has a 1 year low of $64.79 and a 1 year high of $243.80. 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’s fifty day moving average price is $204.33 and its two-hundred day moving average price is $166.37. The firm has a market cap of $11.75 billion, a PE ratio of 123.75, a PEG ratio of 1.32 and a beta of 1.68.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The company had revenue of $805.00 million during 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%.The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. On average, equities research analysts forecast that Modine Manufacturing will post 3.88 EPS for the current year.

Insider Buying and Selling

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was 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 trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of MOD. Kemnay Advisory Services Inc. purchased a new stake in Modine Manufacturing in the fourth quarter worth approximately $25,000. Spire Wealth Management purchased a new position in shares of Modine Manufacturing during the fourth quarter worth approximately $27,000. First Horizon Corp bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $38,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $39,000. Finally, Danske Bank A S purchased a new stake in shares of Modine Manufacturing in the 3rd quarter valued at $43,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

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.