Modine Manufacturing (NYSE:MOD) Stock Price Expected to Rise, KeyCorp Analyst Says

Key Points

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Modine Manufacturing (NYSE:MOD - Free Report) had its price objective lifted by KeyCorp from $125.00 to $150.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the auto parts company's stock.

A number of other equities analysts have also issued reports on MOD. Oppenheimer increased their price objective on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th.

Modine Manufacturing Stock Performance

MOD stock traded down $1.32 on Thursday, reaching $133.24. The company's stock had a trading volume of 1,996,069 shares, compared to its average volume of 1,430,130. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $146.84. The company has a market capitalization of $6.99 billion, a P/E ratio of 38.18, a price-to-earnings-growth ratio of 0.88 and a beta of 2.12. The firm has a fifty day moving average of $98.25 and a two-hundred day moving average of $93.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.15.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.13. Modine Manufacturing had a return on equity of 24.82% and a net margin of 7.21%. The business had revenue of $682.80 million during the quarter, compared to analyst estimates of $653.80 million. During the same period in the prior year, the company posted $1.04 EPS. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, analysts predict that Modine Manufacturing will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other news, VP Brian Jon Agen sold 47,939 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $110.50, for a total value of $5,297,259.50. Following the completion of the sale, the vice president owned 90,015 shares in the company, valued at $9,946,657.50. This represents a 34.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael B. Lucareli sold 5,778 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $115.00, for a total value of $664,470.00. Following the completion of the sale, the executive vice president owned 121,142 shares of the company's stock, valued at $13,931,330. The trade was a 4.55% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.48% of the company's stock.

Institutional Trading of Modine Manufacturing

Hedge funds have recently modified their holdings of the business. LPL Financial LLC raised its holdings in shares of Modine Manufacturing by 3.7% during the fourth quarter. LPL Financial LLC now owns 50,358 shares of the auto parts company's stock worth $5,838,000 after acquiring an additional 1,790 shares in the last quarter. Norges Bank acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at about $31,590,000. Schroder Investment Management Group grew its position in Modine Manufacturing by 327.7% during the fourth quarter. Schroder Investment Management Group now owns 16,741 shares of the auto parts company's stock worth $1,969,000 after buying an additional 12,827 shares in the last quarter. California Public Employees Retirement System grew its position in Modine Manufacturing by 23.6% during the fourth quarter. California Public Employees Retirement System now owns 85,690 shares of the auto parts company's stock worth $9,934,000 after buying an additional 16,376 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Modine Manufacturing by 1,257.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 10,422 shares of the auto parts company's stock worth $1,262,000 after buying an additional 9,654 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.