Modine Manufacturing (NYSE:MOD) Price Target Raised to $145.00 at Oppenheimer

Modine Manufacturing (NYSE:MOD) had its price objective raised by Oppenheimer from $144.00 to $145.00 in a research note released on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the auto parts company’s stock.

A number of other equities research analysts have also weighed in on MOD. B. Riley lifted their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. William Blair initiated coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. Finally, DA Davidson lifted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing Trading Down 3.3 %

Modine Manufacturing stock traded down $3.83 during trading hours on Thursday, reaching $113.94. The stock had a trading volume of 189,180 shares, compared to its average volume of 854,803. The stock has a market cap of $5.97 billion, a PE ratio of 38.61, a PEG ratio of 0.92 and a beta of 2.22. Modine Manufacturing has a 52 week low of $39.50 and a 52 week high of $141.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. The company has a fifty day simple moving average of $123.01 and a 200-day simple moving average of $108.39.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $658.00 million for the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 24.79%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. Analysts forecast that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total value of $3,775,056.00. Following the completion of the transaction, the director now directly owns 144,038 shares of the company’s stock, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Modine Manufacturing

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in Modine Manufacturing during the first quarter valued at approximately $37,000. Opal Wealth Advisors LLC bought a new stake in Modine Manufacturing during the second quarter valued at approximately $51,000. West Oak Capital LLC grew its position in Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after buying an additional 450 shares during the period. Fifth Third Bancorp bought a new stake in Modine Manufacturing during the second quarter valued at approximately $64,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Modine Manufacturing during the second quarter valued at approximately $68,000. 95.23% of the stock is currently owned by institutional investors.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.