Modine Manufacturing (NYSE:MOD) Stock Picked Up by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of Modine Manufacturing with an “overweight” rating and a $275 price target, implying about 84% upside from the stock’s reported price.
• Analyst sentiment is broadly positive but mixed: Modine has a consensus “Moderate Buy” rating and an average price target of $305.67, though some firms recently downgraded the stock or lowered their targets.
• Modine reported quarterly EPS of $1.53, beating estimates of $1.27, while revenue rose 28% year over year to $874.1 million. Institutional investors own approximately 95.23% of the company’s shares.

Research analysts at Cantor Fitzgerald initiated coverage on shares of Modine Manufacturing (NYSE:MOD - Get Free Report) in a research note issued on Tuesday, MarketBeat reports. The firm set an "overweight" rating and a $275.00 price target on the auto parts company's stock. Cantor Fitzgerald's price target would indicate a potential upside of 83.79% from the stock's current price.

A number of other analysts also recently commented on the company. Robert W. Baird started coverage on Modine Manufacturing in a research report on Tuesday, October 6th. They set an "outperform" rating and a $300.00 target price on the stock. Zacks Research cut Modine Manufacturing from a "hold" rating to a "strong sell" rating in a research report on Friday. Oppenheimer cut their price target on Modine Manufacturing from $300.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, October 2nd. B. Riley Financial reaffirmed a "buy" rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Modine Manufacturing currently has a consensus rating of "Moderate Buy" and an average target price of $305.67.

Modine Manufacturing Price Performance

MOD stock opened at $149.63 on Tuesday. The firm has a 50 day moving average of $185.91 and a 200-day moving average of $227.72. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 0.53 and a beta of 1.71.

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

Institutional Investors Weigh In On Modine Manufacturing

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Modine Manufacturing during the second quarter valued at approximately $765,540,000. Paradigm Capital Management Inc. NY purchased a new stake in Modine Manufacturing in the 2nd quarter worth approximately $388,140,000. Reinhart Partners LLC. grew its stake in Modine Manufacturing by 76.4% in the 3rd quarter. Reinhart Partners LLC. now owns 980,220 shares of the auto parts company's stock worth $183,497,000 after acquiring an additional 424,534 shares during the period. Jupiter Topco LLC acquired a new position in Modine Manufacturing in the 2nd quarter valued at $123,873,000. Finally, Blue Whale Capital LLP acquired a new position in Modine Manufacturing in the 2nd quarter valued at $123,747,000. Institutional investors and hedge funds 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 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.

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