Brokerages Set Modine Manufacturing Company (NYSE:MOD) Target Price at $314.29

Shares of Modine Manufacturing Company (NYSE:MOD) have been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $320.1429.

MOD has been the topic of several recent analyst reports. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Glj Research reaffirmed a “buy” rating and issued a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Oppenheimer increased their price target on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Finally, UBS Group raised their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th.

Modine Manufacturing Trading Down 3.3%

Shares of NYSE:MOD opened at $194.99 on Thursday. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a market capitalization of $10.36 billion, a PE ratio of 73.30, a PEG ratio of 0.66 and a beta of 1.71. The business has a 50 day moving average of $252.20 and a two-hundred day moving average of $232.45. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, July 28th. The auto parts company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. The business had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business’s revenue was up 28.0% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. As a group, analysts forecast that Modine Manufacturing will post 7.65 EPS for the current year.

Insider Transactions at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the sale, the insider owned 28,364 shares of the company’s stock, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,302 shares of company stock valued at $15,928,759 in the last three months. 1.92% of the stock is currently owned by company insiders.

Institutional Trading of Modine Manufacturing

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of Modine Manufacturing by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 2,879,299 shares of the auto parts company’s stock worth $384,415,000 after purchasing an additional 130,511 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after buying an additional 560,131 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company’s stock worth $176,553,000 after buying an additional 23,955 shares during the last quarter. Capital Research Global Investors increased its stake in Modine Manufacturing by 13.8% during the 4th quarter. Capital Research Global Investors now owns 1,478,224 shares of the auto parts company’s stock worth $197,358,000 after buying an additional 179,617 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after buying an additional 720,389 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

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.