Modine Manufacturing (NYSE:MOD) Stock Rating Reaffirmed as Buy by DA Davidson

Key Points

• DA Davidson reaffirmed its Buy rating on Modine Manufacturing and set a $330 price target, implying 80.63% potential upside from the reported $182.69 share price.
• Analyst sentiment remains positive overall, with seven Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and average target of $320.14.
• Modine’s latest quarterly results exceeded expectations, with earnings of $1.53 per share versus the $1.27 consensus estimate and revenue up 28% year over year to $874.1 million.

Modine Manufacturing (NYSE:MOD - Get Free Report)'s stock had its "buy" rating reissued by DA Davidson in a research report issued on Tuesday, Benzinga reports. They currently have a $330.00 price objective on the auto parts company's stock. DA Davidson's price target would indicate a potential upside of 80.63% from the company's current price.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Glj Research reissued a "buy" rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. B. Riley Financial reiterated a "buy" rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Finally, KeyCorp reiterated an "overweight" rating and set a $280.00 price target on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of "Moderate Buy" and an average price target of $320.14.

Modine Manufacturing Trading Up 4.4%

Modine Manufacturing stock traded up $7.65 during mid-day trading on Tuesday, hitting $182.69. The company's stock had a trading volume of 804,320 shares, compared to its average volume of 1,382,813. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 68.64, a price-to-earnings-growth ratio of 0.65 and a beta of 1.74. The business has a 50 day moving average price of $197.01 and a 200-day moving average price of $231.09. Modine Manufacturing has a 12 month low of $111.18 and a 12 month high of $323.25.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.26. The firm had revenue of $874.10 million during 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 business's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 earnings per share. As a group, analysts forecast that Modine Manufacturing will post 7.65 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Modine Manufacturing in the first quarter worth about $25,000. Rakuten Securities Inc. bought a new position in shares of Modine Manufacturing in the second quarter worth about $40,000. PenderFund Capital Management Ltd. bought a new position in shares of Modine Manufacturing in the second quarter worth about $42,000. Root Financial Partners LLC grew its holdings in shares of Modine Manufacturing by 140.5% in the fourth quarter. Root Financial Partners LLC now owns 368 shares of the auto parts company's stock worth $49,000 after purchasing an additional 215 shares during the last quarter. Finally, Optiver Holding B.V. grew its holdings in shares of Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company's stock worth $51,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

About Modine Manufacturing

Modine Manufacturing Company NYSE: MOD is a diversified thermal-management company that develops and manufactures products and systems for commercial, industrial, transportation, and building applications. Its solutions are designed to transfer and control heat, improve energy efficiency, and support the operation of engines, vehicles, data centers, and other equipment.

The company operates through businesses focused on climate solutions and performance technologies. Its products and services include heat exchangers, cooling modules, radiators, charge-air coolers, heating and air-conditioning systems, refrigeration and data-center cooling equipment, and thermal-management solutions for electric vehicles and other specialized applications.

Founded in 1916, Modine serves customers in markets worldwide through manufacturing, engineering, and sales operations across North America, Europe, and Asia.