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

Shares of Modine Manufacturing Company (NYSE:MOD - Get Free Report) have been assigned a consensus rating of "Buy" from the five ratings firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $135.50.

Several brokerages have recently weighed in on MOD. Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. DA Davidson restated a "buy" rating and issued a $155.00 target price on shares of Modine Manufacturing in a research note on Monday, March 17th. KeyCorp initiated coverage on shares of Modine Manufacturing in a research note on Thursday, June 12th. They set an "overweight" rating and a $125.00 price objective on the stock. Finally, Oppenheimer increased their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st.

Modine Manufacturing Stock Down 4.3%

NYSE:MOD traded down $4.52 during midday trading on Monday, hitting $100.02. 700,662 shares of the company were exchanged, compared to its average volume of 945,836. The company has a fifty day simple moving average of $95.09 and a 200 day simple moving average of $95.69. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $146.84. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $5.24 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 0.68 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.16. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The company had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. During the same period in the previous year, the business posted $0.77 earnings per share. Modine Manufacturing's quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

Several large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its position in Modine Manufacturing by 362.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,310 shares of the auto parts company's stock valued at $268,000 after purchasing an additional 1,810 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Modine Manufacturing by 22.0% in the 4th quarter. Victory Capital Management Inc. now owns 191,838 shares of the auto parts company's stock valued at $22,240,000 after purchasing an additional 34,638 shares during the period. Proficio Capital Partners LLC bought a new stake in Modine Manufacturing in the 4th quarter valued at $1,962,000. Arizona State Retirement System lifted its holdings in shares of Modine Manufacturing by 0.8% during the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company's stock worth $1,675,000 after acquiring an additional 118 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Modine Manufacturing during the 4th quarter worth about $19,719,000. 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.