Modine Manufacturing Company (NYSE:MOD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Modine Manufacturing Company (NYSE:MOD) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $327.1429.

MOD has been the topic of several recent research reports. Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. KeyCorp upped their price target on Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. DA Davidson upped their price target on Modine Manufacturing from $265.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Oppenheimer upped their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th.

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in Modine Manufacturing in the first quarter worth $25,000. Kemnay Advisory Services Inc. bought a new stake in Modine Manufacturing in the fourth quarter worth $25,000. Spire Wealth Management bought a new stake in Modine Manufacturing in the fourth quarter worth $27,000. Optiver Holding B.V. boosted its holdings in Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after acquiring an additional 39 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in Modine Manufacturing in the third quarter worth $39,000. 95.23% of the stock is owned by institutional investors.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $273.16 on Wednesday. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 121.95, a PEG ratio of 0.89 and a beta of 1.65. The business’s fifty day moving average is $260.23 and its 200 day moving average is $205.52. Modine Manufacturing has a twelve month low of $86.48 and a twelve month high of $323.25. The company has a quick ratio of 1.25, a current ratio of 1.94 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.20. The company had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The firm’s revenue for the quarter was up 47.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 earnings per share. Research analysts expect that Modine Manufacturing will post 7.73 EPS for the current fiscal year.

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.