Wall Street Zen Upgrades Modine Manufacturing (NYSE:MOD) to “Buy”

Modine Manufacturing (NYSE:MOD) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other analysts have also issued reports on MOD. KeyCorp boosted their price target on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer boosted their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday. B. Riley Financial boosted their price target on Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday. DA Davidson upped their target price on Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a report on Friday. Finally, Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus target price of $307.43.

Modine Manufacturing Stock Up 3.4%

Shares of NYSE MOD opened at $279.83 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.28 and a current ratio of 1.94. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 124.93, a PEG ratio of 1.09 and a beta of 1.66. The stock has a 50 day moving average price of $246.44 and a 200 day moving average price of $195.14. Modine Manufacturing has a 52-week low of $86.48 and a 52-week high of $323.25.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. The firm had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.Modine Manufacturing’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. Sell-side analysts expect that Modine Manufacturing will post 7.34 earnings per share for the current year.

Institutional Trading of Modine Manufacturing

Hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing during the first quarter worth $25,000. Kemnay Advisory Services Inc. acquired a new position in shares of Modine Manufacturing during the fourth quarter worth $25,000. Spire Wealth Management acquired a new position in shares of Modine Manufacturing during the fourth quarter worth $27,000. Sunbelt Securities Inc. acquired a new position in shares of Modine Manufacturing during the third quarter worth $39,000. Finally, Danske Bank A S acquired a new position in shares of Modine Manufacturing during the third quarter worth $43,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

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.