Modine Manufacturing (NYSE:MOD) Stock Bumped Up to Strong-Buy by Robert W. Baird

Key Points

• Robert W. Baird upgraded Modine Manufacturing to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with a $309.50 price target.
• Modine shares rose 3.4% to open at $189.16, though they remain below the 200-day moving average of $230.62 and well below the 52-week high of $323.25.
• The company reported quarterly EPS of $1.53, beating estimates by $0.26, while revenue increased 28% year over year to $874.1 million; institutional investors own 95.23% of its stock.

Modine Manufacturing (NYSE:MOD - Get Free Report) was upgraded by analysts at Robert W. Baird to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

Other research analysts have also issued research reports about the company. Weiss Ratings restated a "hold (c)" rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. DA Davidson reiterated a "buy" rating and set a $330.00 price target on shares of Modine Manufacturing in a report on Tuesday, September 29th. KeyCorp reissued an "overweight" rating and issued a $280.00 price target on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. Oppenheimer dropped their price objective on Modine Manufacturing from $300.00 to $260.00 and set an "outperform" rating on the stock in a research note on Friday, October 2nd. Finally, Wall Street Zen downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $309.50.

Modine Manufacturing Trading Up 3.4%

MOD opened at $189.16 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. Modine Manufacturing has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The firm has a market capitalization of $10.05 billion, a PE ratio of 71.11, a P/E/G ratio of 0.60 and a beta of 1.71. The company's 50-day moving average is $190.68 and its 200 day moving average is $230.62.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating the consensus estimate 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 firm's revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. As a group, research analysts predict that Modine Manufacturing will post 7.68 earnings per share for the current fiscal year.

Institutional Trading of Modine Manufacturing

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Modine Manufacturing in the second quarter worth about $765,540,000. Paradigm Capital Management Inc. NY bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $388,140,000. Jupiter Topco LLC purchased a new position in Modine Manufacturing in the second quarter valued at approximately $123,873,000. Blue Whale Capital LLP purchased a new position in Modine Manufacturing in the second quarter valued at approximately $123,747,000. Finally, Janus Henderson Group PLC grew its holdings in Modine Manufacturing by 2,249.9% during the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company's stock valued at $113,459,000 after purchasing an additional 501,229 shares during the period. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company NYSE: MOD is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company's products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.