Modine Manufacturing (NYSE:MOD) PT Raised to $155.00 at DA Davidson

Modine Manufacturing (NYSE:MOD - Get Free Report) had its price objective raised by analysts at DA Davidson from $140.00 to $155.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the auto parts company's stock. DA Davidson's target price points to a potential upside of 15.94% from the company's current price.

Several other brokerages have also commented on MOD. Oppenheimer restated an "outperform" rating and issued a $135.00 price objective on shares of Modine Manufacturing in a report on Thursday, September 12th. 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, William Blair began coverage on shares of Modine Manufacturing in a report on Monday, July 29th. They issued an "outperform" rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $143.33.

Modine Manufacturing Trading Up 5.1 %

Shares of NYSE MOD traded up $6.53 during trading hours on Tuesday, hitting $133.69. The company's stock had a trading volume of 728,007 shares, compared to its average volume of 891,905. 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 stock has a market cap of $7.00 billion, a price-to-earnings ratio of 44.12, a P/E/G ratio of 0.83 and a beta of 2.22. Modine Manufacturing has a 12 month low of $38.50 and a 12 month high of $135.18. The business has a 50-day simple moving average of $109.64 and a 200-day simple moving average of $101.50.

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

Insider Activity

In other news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing 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 completion of the transaction, the director now directly owns 144,038 shares in the company, valued at $15,806,730.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Modine Manufacturing by 27.3% during 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 in the last quarter. Capital International Investors increased its position in shares of 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 valued at $135,726,000 after acquiring an additional 411,946 shares in the last quarter. Driehaus Capital Management LLC increased its position in shares of Modine Manufacturing by 32.8% during the second quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company's stock valued at $110,403,000 after acquiring an additional 272,174 shares in the last quarter. Hennessy Advisors Inc. increased its position in shares of Modine Manufacturing by 20.4% during the first 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 in the last quarter. Finally, Fred Alger Management LLC increased its position in shares of Modine Manufacturing by 5.1% during the second quarter. Fred Alger Management LLC now owns 369,840 shares of the auto parts company's stock valued at $37,054,000 after acquiring an additional 17,889 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

Modine Manufacturing Company Profile

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.