Modine Manufacturing’s (MOD) “Outperform” Rating Reaffirmed at Oppenheimer

Modine Manufacturing (NYSE:MOD)‘s stock had its “outperform” rating reiterated by analysts at Oppenheimer in a report released on Thursday, Benzinga reports. They currently have a $135.00 price target on the auto parts company’s stock. Oppenheimer’s price target points to a potential upside of 19.32% from the stock’s current price.

MOD has been the subject of a number of other research reports. William Blair started coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an “outperform” rating for the company. DA Davidson boosted their price target on shares of Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, B. Riley raised their target price on shares of Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.33.

Modine Manufacturing Stock Up 4.7 %

Shares of MOD traded up $5.04 during midday trading on Thursday, hitting $113.14. The company had a trading volume of 145,994 shares, compared to its average volume of 898,689. The firm has a market capitalization of $5.93 billion, a P/E ratio of 37.34, a P/E/G ratio of 0.74 and a beta of 2.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.80. The company’s 50-day simple moving average is $107.50 and its 200-day simple moving average is $99.43. Modine Manufacturing has a 1 year low of $38.50 and a 1 year high of $123.92.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The firm had revenue of $661.50 million during the quarter, compared to the consensus estimate of $633.55 million. During the same quarter in the prior year, the firm earned $0.85 EPS. Modine Manufacturing’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Modine Manufacturing will post 3.85 EPS for the current year.

Insider Buying and Selling

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the firm’s 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 sale, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Modine Manufacturing by 27.3% in the first quarter. Vanguard Group Inc. now owns 3,909,016 shares of the auto parts company’s stock valued at $372,099,000 after acquiring an additional 838,460 shares during the last quarter. Capital International Investors increased its holdings in Modine Manufacturing by 40.6% during the first quarter. Capital International Investors now owns 1,425,845 shares of the auto parts company’s stock worth $135,726,000 after buying an additional 411,946 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Modine Manufacturing by 32.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after acquiring an additional 272,174 shares during the period. Hennessy Advisors Inc. raised its holdings in Modine Manufacturing by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 714,400 shares of the auto parts company’s stock valued at $68,004,000 after acquiring an additional 121,200 shares during the period. Finally, Fred Alger Management LLC raised its stake in shares of Modine Manufacturing by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company’s stock valued at $37,054,000 after purchasing an additional 17,889 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.