Modine Manufacturing Company (MOD) - What Are Analysts Thinking About This Stock?

Key Points

• Analysts maintain a “Moderate Buy” consensus on Modine Manufacturing, with seven buy ratings, one strong buy, and two holds. The average 12-month price target is $309.50, though recent targets range from $260 to $330.
• MOD shares fell 2.0% to $169.11, well below their 52-week high of $323.25. The stock trades at a price-to-earnings ratio of 63.80, indicating a relatively high valuation.
• Modine exceeded quarterly earnings expectations, reporting $1.53 in EPS versus the $1.27 consensus estimate, while revenue rose 28% year over year to $874.1 million. Institutional investors own approximately 95.23% of the company’s outstanding shares.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $309.50.

Several brokerages have commented on MOD. 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. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. DA Davidson reiterated a "buy" rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research note on Tuesday, September 29th. Oppenheimer reduced 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, Robert W. Baird began coverage on Modine Manufacturing in a report on Tuesday, October 6th. They issued an "outperform" rating and a $300.00 target price for the company.

Modine Manufacturing Trading Down 2.0%

Modine Manufacturing stock traded down $3.39 during trading on Tuesday, hitting $169.11. The company had a trading volume of 219,081 shares, compared to its average volume of 1,376,244. Modine Manufacturing has a 1-year low of $111.18 and a 1-year 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's 50 day simple moving average is $189.81 and its 200-day simple moving average is $229.83. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 63.80, a price-to-earnings-growth ratio of 0.59 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.26. The firm had revenue of $874.10 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, analysts expect that Modine Manufacturing will post 7.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds have recently bought and sold shares of MOD. Reinhart Partners LLC. raised its position 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 valued at $183,497,000 after purchasing an additional 424,534 shares in the last quarter. Legacy Wealth Asset Management LLC acquired a new position in shares of Modine Manufacturing during the third quarter worth about $436,000. Diversified Management Inc. acquired a new position in shares of Modine Manufacturing during the third quarter worth about $236,000. GAMMA Investing LLC grew its position in shares of Modine Manufacturing by 14.9% during the third quarter. GAMMA Investing LLC now owns 785 shares of the auto parts company's stock worth $147,000 after buying an additional 102 shares in the last quarter. Finally, Wealth Enhancement Trust Services Inc. increased its stake in shares of Modine Manufacturing by 10.5% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 3,425 shares of the auto parts company's stock worth $641,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds 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 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.

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