Modine Manufacturing (NYSE:MOD) Sets New 1-Year High After Analyst Upgrade

Modine Manufacturing (NYSE:MOD - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday after DA Davidson raised their price target on the stock from $140.00 to $155.00. DA Davidson currently has a buy rating on the stock. Modine Manufacturing traded as high as $135.64 and last traded at $134.84, with a volume of 43804 shares. The stock had previously closed at $133.69.

Other equities research analysts have also recently issued research reports about the stock. William Blair began coverage on shares of Modine Manufacturing in a research report on Monday, July 29th. They set an "outperform" rating for the company. B. Riley raised their price objective 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. Finally, Oppenheimer reissued an "outperform" rating and issued a $135.00 target price on shares of Modine Manufacturing in a report on Thursday, September 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Modine Manufacturing has an average rating of "Moderate Buy" and an average price target of $143.33.

Insiders Place Their Bets

In other news, Director Marsha C. Williams sold 34,400 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the transaction, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in MOD. Sanctuary Advisors LLC acquired a new stake in Modine Manufacturing in the second quarter worth about $1,382,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Modine Manufacturing during the 2nd quarter worth approximately $1,475,000. Cetera Investment Advisers raised its stake in shares of Modine Manufacturing by 33.2% during the second quarter. Cetera Investment Advisers now owns 25,856 shares of the auto parts company's stock worth $2,591,000 after buying an additional 6,451 shares during the last quarter. Truist Financial Corp lifted its holdings in Modine Manufacturing by 12.0% in the second quarter. Truist Financial Corp now owns 34,457 shares of the auto parts company's stock valued at $3,452,000 after buying an additional 3,683 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new position in Modine Manufacturing in the second quarter valued at approximately $492,000. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Stock Up 0.0 %

The business's fifty day simple moving average is $109.64 and its 200 day simple moving average is $101.50. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 0.97 and a beta of 2.22. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business had revenue of $661.50 million during the quarter, compared to analysts' expectations of $633.55 million. During the same period in the previous year, the firm earned $0.85 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts forecast that Modine Manufacturing will post 3.85 earnings per share for the current fiscal year.

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.