Modine Manufacturing (NYSE:MOD) Earns Overweight Rating from Analysts at KeyCorp

Stock analysts at KeyCorp started coverage on shares of Modine Manufacturing (NYSE:MOD - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set an "overweight" rating and a $125.00 price target on the auto parts company's stock. KeyCorp's price target indicates a potential upside of 33.25% from the company's current price.

A number of other brokerages have also recently issued reports on MOD. DA Davidson reaffirmed a "buy" rating and set a $155.00 target price on shares of Modine Manufacturing in a research report on Monday, March 17th. Oppenheimer increased their price objective on Modine Manufacturing from $114.00 to $121.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $135.25.

Modine Manufacturing Trading Down 3.4%

Shares of NYSE MOD traded down $3.26 during midday trading on Thursday, hitting $93.81. The stock had a trading volume of 962,171 shares, compared to its average volume of 948,585. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 0.71 and a beta of 2.06. The company has a fifty day moving average price of $88.38 and a 200 day moving average price of $99.36. The company has a quick ratio of 1.18, a current ratio of 1.87 and a debt-to-equity ratio of 0.38. Modine Manufacturing has a 1-year low of $64.79 and a 1-year high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 6.31% and a return on equity of 24.25%. The business had revenue of $647.20 million during the quarter, compared to the consensus estimate of $633.13 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company's quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its Board of Directors has approved a share buyback program on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOD. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Modine Manufacturing by 5.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company's stock valued at $154,000 after purchasing an additional 105 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Modine Manufacturing by 14.2% during the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after purchasing an additional 113 shares in the last quarter. Arizona State Retirement System raised its stake 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 purchasing an additional 118 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Modine Manufacturing by 8.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock worth $208,000 after acquiring an additional 136 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Modine Manufacturing by 63.1% during the 1st quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after acquiring an additional 142 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.