Modine Manufacturing (NYSE:MOD) Stock Price Target Cut by KeyCorp

Key Points

• KeyCorp cut its price target on Modine Manufacturing to $225 from $280 but maintained an “overweight” rating; the new target implies 78.4% upside from the stock’s current price.
• Analyst sentiment remains broadly positive: Modine has a “Moderate Buy” consensus rating and an average price target of $297.33.
• In its latest quarter, Modine’s earnings per share of $1.35 missed the $1.45 consensus estimate, while revenue of $994.4 million beat forecasts and rose 34.6% year over year.

Modine Manufacturing (NYSE:MOD - Get Free Report) had its price target cut by KeyCorp from $280.00 to $225.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the auto parts company's stock. KeyCorp's price objective suggests a potential upside of 78.40% from the stock's current price.

Several other analysts have also commented on MOD. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Modine Manufacturing in a research report on Tuesday, August 25th. B. Riley Financial lowered their price objective on Modine Manufacturing from $305.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, October 29th. Cantor Fitzgerald initiated coverage on Modine Manufacturing in a research note on Tuesday, October 20th. They set an "overweight" rating and a $275.00 target price for the company. DA Davidson restated a "buy" rating and issued a $330.00 target price on shares of Modine Manufacturing in a research report on Tuesday, October 27th. Finally, Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Modine Manufacturing has an average rating of "Moderate Buy" and a consensus price target of $297.33.

Modine Manufacturing Price Performance

Modine Manufacturing stock opened at $126.12 on Wednesday. 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 50-day moving average price of $171.81 and a 200 day moving average price of $214.76. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The stock has a market cap of $6.70 billion, a P/E ratio of 22.47, a PEG ratio of 0.44 and a beta of 1.86.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The auto parts company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.10). Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm had revenue of $994.40 million during the quarter, compared to analyst estimates of $978.31 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business's revenue for the quarter was up 34.6% compared to the same quarter last year. Sell-side analysts anticipate that Modine Manufacturing will post 7.02 earnings per share for the current year.

Institutional Investors Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing in the first quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new position in shares of Modine Manufacturing during the second quarter worth $40,000. PenderFund Capital Management Ltd. purchased a new position in shares of Modine Manufacturing during the second quarter worth $42,000. Optiver Holding B.V. boosted its position in shares of Modine Manufacturing by 19.7% during the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company's stock worth $51,000 after buying an additional 39 shares during the period. Finally, Vega Investment Solutions acquired a new stake in shares of Modine Manufacturing in the second quarter valued at $52,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

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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