Modine Manufacturing (NYSE:MOD) Given Buy Rating at DA Davidson

Key Points

• DA Davidson reaffirmed a Buy rating on Modine with a $265 price target (about a 26% upside), and the analyst consensus remains a Buy (1 Strong Buy, 6 Buy, 1 Hold) with an average target of $234.33.
• Modine beat the quarter's estimates with EPS $1.19 vs $0.99 and revenue $805M (+30.5% YoY), and analysts forecast roughly 3.88 EPS for the current year.
• Shares were trading up 3.9% at $210.03 midday; the company has a market cap of $11.07B, a trailing P/E of 116.5, and a 52‑week range of $64.79–$243.80.

Modine Manufacturing (NYSE:MOD - Get Free Report)'s stock had its "buy" rating reaffirmed by DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $265.00 price target on the auto parts company's stock. DA Davidson's target price indicates a potential upside of 26.18% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. Oppenheimer lifted their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, February 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Roth Mkm initiated coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a "buy" rating and a $263.00 price target on the stock. Glj Research assumed coverage on shares of Modine Manufacturing in a report on Monday. They issued a "buy" rating and a $290.00 target price on the stock. Finally, Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, February 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $234.33.

Modine Manufacturing Stock Up 3.9%

Shares of NYSE:MOD traded up $7.85 during midday trading on Tuesday, reaching $210.03. 112,953 shares of the company were exchanged, compared to its average volume of 1,419,446. The firm has a market cap of $11.07 billion, a PE ratio of 116.50, a P/E/G ratio of 1.31 and a beta of 1.67. Modine Manufacturing has a fifty-two week low of $64.79 and a fifty-two week high of $243.80. The stock has a fifty day simple moving average of $201.14 and a two-hundred day simple moving average of $165.50. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The company's revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. As a group, sell-side analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the sale, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

Several institutional investors and hedge funds have recently made changes to their positions in MOD. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at $25,000. Spire Wealth Management bought a new stake in Modine Manufacturing during the fourth quarter worth about $27,000. First Horizon Corp acquired a new stake in Modine Manufacturing during the third quarter worth about $38,000. Sunbelt Securities Inc. bought a new position in Modine Manufacturing in the 3rd quarter valued at about $39,000. Finally, Danske Bank A S bought a new position in Modine Manufacturing in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 95.23% of the company's stock.

About Modine Manufacturing

Modine Manufacturing Company NYSE: MOD is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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