KeyCorp Forecasts Strong Price Appreciation for Modine Manufacturing (NYSE:MOD) Stock

Key Points

• KeyCorp has raised its price target for Modine Manufacturing's stock from $160.00 to $175.00, suggesting a potential upside of 20.91% from the previous close.
• Analysts have varied opinions on the stock, with ratings ranging from "buy" to "hold," leading to an average rating of Moderate Buy and a consensus target price of $160.67.
• Modine Manufacturing reported a quarterly earnings beat with an EPS of $1.06, exceeding estimates and demonstrating a year-over-year revenue increase of 3.2%.

Modine Manufacturing (NYSE:MOD - Get Free Report) had its price objective boosted by equities research analysts at KeyCorp from $160.00 to $175.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the auto parts company's stock. KeyCorp's price objective would suggest a potential upside of 20.91% from the stock's previous close.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Modine Manufacturing in a research note on Wednesday, October 8th. DA Davidson reaffirmed a "buy" rating and set a $185.00 price target on shares of Modine Manufacturing in a research report on Monday, September 29th. Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Zacks Research downgraded Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Finally, Oppenheimer raised their price objective on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $160.67.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $144.73 on Tuesday. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The stock has a market cap of $7.60 billion, a PE ratio of 41.76, a price-to-earnings-growth ratio of 0.92 and a beta of 2.06. The stock's fifty day simple moving average is $142.97 and its two-hundred day simple moving average is $110.24. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $159.54.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.13. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%.The company had revenue of $682.80 million during the quarter, compared to the consensus estimate of $653.80 million. During the same period last year, the business posted $1.04 earnings per share. Modine Manufacturing's revenue was up 3.2% on a year-over-year basis. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, analysts forecast that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Insider Activity at Modine Manufacturing

In related news, insider Eric S. Mcginnis sold 25,173 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $140.86, for a total value of $3,545,868.78. Following the transaction, the insider directly owned 19,966 shares in the company, valued at approximately $2,812,410.76. This represents a 55.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marsha C. Williams sold 25,761 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $134.77, for a total value of $3,471,809.97. Following the completion of the transaction, the director owned 120,689 shares in the company, valued at $16,265,256.53. This represents a 17.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,938 shares of company stock worth $31,001,392 in the last quarter. Corporate insiders own 2.48% of the company's stock.

Hedge Funds Weigh In On Modine Manufacturing

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Modine Manufacturing by 293.7% in the first quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock valued at $189,479,000 after purchasing an additional 1,841,640 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Modine Manufacturing by 384.3% during the 1st quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company's stock worth $65,089,000 after purchasing an additional 672,960 shares in the last quarter. Situational Awareness LP increased its stake in shares of Modine Manufacturing by 980.1% during the 1st quarter. Situational Awareness LP now owns 716,824 shares of the auto parts company's stock worth $55,016,000 after purchasing an additional 650,457 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Modine Manufacturing by 244.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company's stock worth $73,249,000 after purchasing an additional 527,626 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in shares of Modine Manufacturing by 954.8% during the 3rd quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company's stock worth $74,987,000 after purchasing an additional 477,473 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.

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