Modine Manufacturing Company (NYSE:MOD) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Modine Manufacturing a “Moderate Buy” consensus rating: seven of nine analysts rate the stock a buy, while two recommend holding it. The average 12-month price target is $320.14.
• MOD shares recently traded at $187.05, well below the average analyst target and their 12-month high of $323.25. The stock has a market capitalization of approximately $9.93 billion.
• Modine exceeded quarterly earnings expectations, reporting $1.53 in EPS versus the $1.27 consensus estimate. Revenue rose 28% year over year to $874.1 million, slightly below expectations.

Shares of Modine Manufacturing Company (NYSE:MOD - Get Free Report) have earned an average rating of "Moderate Buy" from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $320.1429.

MOD has been the topic of a number of recent research reports. DA Davidson restated a "buy" rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Monday, June 22nd. B. Riley Financial reissued a "buy" rating and set a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Oppenheimer increased their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Weiss Ratings restated a "hold (c)" rating on shares of Modine Manufacturing in a research report on Tuesday, August 25th. Finally, KeyCorp reiterated an "overweight" rating and set a $280.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, September 2nd.

Modine Manufacturing Price Performance

MOD stock traded up $2.19 during mid-day trading on Friday, hitting $187.05. The company had a trading volume of 102,099 shares, compared to its average volume of 1,370,496. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a 50-day moving average price of $202.58 and a 200 day moving average price of $231.84. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 70.26, a P/E/G ratio of 0.59 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $878.69 million. During the same period in the prior year, the company earned $0.95 EPS. The company's quarterly revenue was up 28.0% compared to the same quarter last year. On average, research analysts anticipate that Modine Manufacturing will post 7.65 earnings per share for the current year.

Hedge Funds Weigh In On Modine Manufacturing

Hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Modine Manufacturing in the first quarter worth approximately $25,000. Rakuten Securities Inc. purchased a new stake in Modine Manufacturing in the second quarter worth $40,000. PenderFund Capital Management Ltd. purchased a new stake in Modine Manufacturing in the second quarter worth $42,000. Vega Investment Solutions purchased a new stake in Modine Manufacturing in the second quarter worth $52,000. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of Modine Manufacturing during the second quarter worth $55,000. 95.23% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.