Modine Manufacturing Company (NYSE:MOD) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Modine Manufacturing Company (NYSE:MOD - Get Free Report) have been assigned a consensus rating of "Buy" from the five brokerages that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $135.50.

MOD has been the subject of several analyst reports. KeyCorp initiated coverage on Modine Manufacturing in a research report on Thursday, June 12th. They set an "overweight" rating and a $125.00 target price for the company. Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Oppenheimer raised their price target on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st. Finally, DA Davidson reaffirmed a "buy" rating and set a $155.00 price target on shares of Modine Manufacturing in a report on Monday, March 17th.

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently made changes to their positions in MOD. Wellington Management Group LLP increased its stake in shares of Modine Manufacturing by 293.7% in the 1st quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock valued at $189,479,000 after buying an additional 1,841,640 shares during the period. Wasatch Advisors LP increased its stake in shares of Modine Manufacturing by 108.0% in the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after buying an additional 741,667 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Modine Manufacturing by 384.3% in 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 during the last quarter. Situational Awareness LP boosted its position in shares of Modine Manufacturing by 980.1% in 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 during the last quarter. Finally, Reinhart Partners LLC. boosted its position in shares of Modine Manufacturing by 187.3% in the 1st quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock worth $67,220,000 after purchasing an additional 571,026 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $104.47 on Monday. The stock has a 50 day moving average of $95.09 and a two-hundred day moving average of $95.69. The company has a current ratio of 1.78, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. Modine Manufacturing has a 12 month low of $64.79 and a 12 month high of $146.84. The company has a market capitalization of $5.47 billion, a P/E ratio of 30.55, a P/E/G ratio of 0.68 and a beta of 2.04.

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

About Modine Manufacturing

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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