Modine Manufacturing (NYSE:MOD) Rating Increased to Buy at Wall Street Zen

Modine Manufacturing (NYSE:MOD - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other equities research analysts have also recently commented on the company. DA Davidson reaffirmed a "buy" rating and set a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th. Oppenheimer boosted their target price on Modine Manufacturing from $114.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $138.67.

Modine Manufacturing Trading Up 1.7%

NYSE:MOD traded up $1.52 on Friday, hitting $92.21. 887,195 shares of the stock were exchanged, compared to its average volume of 942,679. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87. Modine Manufacturing has a 52 week low of $64.79 and a 52 week high of $146.84. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 30.94, a P/E/G ratio of 0.71 and a beta of 2.06. The company's 50-day moving average price is $86.58 and its 200 day moving average price is $100.29.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $0.77 earnings per share. Modine Manufacturing's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing declared that its board has initiated a share repurchase plan on Friday, March 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently modified their holdings of the business. William Blair Investment Management LLC increased its stake in Modine Manufacturing by 7.7% during the 4th quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company's stock worth $28,681,000 after purchasing an additional 17,599 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Modine Manufacturing in the fourth quarter valued at approximately $452,000. New York State Common Retirement Fund increased its position in shares of Modine Manufacturing by 9.9% during the fourth quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company's stock worth $28,748,000 after acquiring an additional 22,259 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in shares of Modine Manufacturing by 10.9% during the fourth quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company's stock worth $11,703,000 after acquiring an additional 9,920 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Modine Manufacturing during the fourth quarter worth $19,719,000. 95.23% of the stock is currently owned by institutional investors.

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.