Modine Manufacturing (NYSE:MOD) Stock Keeps "Buy" Rating at DA Davidson

Key Points

• DA Davidson reiterated a “Buy” rating on Modine Manufacturing and set a $330 price target, implying 141.24% upside from the reported $136.80 share price.
• Analyst sentiment remains generally positive: Modine has an average “Moderate Buy” rating and a consensus price target of $305.67, despite some “Hold” ratings and a recent target reduction from Oppenheimer.
• The company exceeded quarterly EPS expectations, reporting $1.53 versus the $1.27 consensus, while revenue increased 28% year over year to $874.1 million; institutional investors own 95.23% of the stock.

Modine Manufacturing (NYSE:MOD - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at DA Davidson in a report issued on Tuesday, Benzinga reports. They presently have a $330.00 price objective on the auto parts company's stock. DA Davidson's target price would suggest a potential upside of 141.24% from the company's current price.

A number of other equities analysts have also issued reports on the company. KeyCorp reissued an "overweight" rating and set a $280.00 price target on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Cantor Fitzgerald began coverage on Modine Manufacturing in a report on Tuesday, October 20th. They issued an "overweight" rating and a $275.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Finally, Oppenheimer lowered their price objective on Modine Manufacturing from $300.00 to $260.00 and set an "outperform" rating on the stock in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Modine Manufacturing has an average rating of "Moderate Buy" and an average target price of $305.67.

Modine Manufacturing Stock Performance

Shares of NYSE MOD traded up $6.53 during midday trading on Tuesday, reaching $136.80. 451,666 shares of the company were exchanged, compared to its average volume of 1,384,586. 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 has a 1 year low of $111.18 and a 1 year high of $323.25. The stock has a fifty day simple moving average of $181.22 and a 200 day simple moving average of $214.49. The stock has a market cap of $7.27 billion, a P/E ratio of 51.39, a PEG ratio of 0.47 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%. The firm had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same quarter last year, the company posted $0.95 earnings per share. The business's revenue was up 28.0% on a year-over-year basis. On average, research analysts forecast that Modine Manufacturing will post 7.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. acquired a new stake in shares of Modine Manufacturing during the 3rd quarter valued at approximately $465,000. WESPAC Advisors LLC lifted its position in shares of Modine Manufacturing by 64.6% during the 3rd quarter. WESPAC Advisors LLC now owns 3,929 shares of the auto parts company's stock valued at $736,000 after acquiring an additional 1,542 shares during the period. Signaturefd LLC lifted its position in shares of Modine Manufacturing by 11.6% during the 3rd quarter. Signaturefd LLC now owns 848 shares of the auto parts company's stock valued at $159,000 after acquiring an additional 88 shares during the period. Simplicity Wealth LLC lifted its position in shares of Modine Manufacturing by 110.3% during the 3rd quarter. Simplicity Wealth LLC now owns 2,698 shares of the auto parts company's stock valued at $505,000 after acquiring an additional 1,415 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in shares of Modine Manufacturing during the 3rd quarter valued at approximately $86,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About Modine Manufacturing

Modine Manufacturing Company NYSE: MOD is a diversified thermal management company that develops and manufactures solutions for managing heat in vehicles, equipment, buildings and industrial systems. Its products are designed to improve efficiency, reliability and performance across a range of applications.

The company serves the automotive, commercial vehicle, off-highway, power generation, data center, heating, ventilation, air conditioning and refrigeration markets. Its offerings include heat exchangers, radiators, charge air coolers, battery and power electronics cooling systems, liquid-cooling equipment, coils and other thermal management components and systems.

Founded in 1916 by Arthur B.