Brokerages Set Modine Manufacturing (NYSE:MOD) PT at $135.25

Modine Manufacturing (NYSE:MOD - Get Free Report) has earned an average rating of "Buy" from the five brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $135.25.

Several research analysts have commented on MOD shares. KeyCorp initiated coverage on Modine Manufacturing in a research report on Thursday. They issued an "overweight" rating and a $125.00 price target on the stock. DA Davidson restated a "buy" rating and issued a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th. Oppenheimer upped their target price on shares of Modine Manufacturing from $114.00 to $121.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Osterweis Capital Management Inc. lifted its holdings in Modine Manufacturing by 11.5% during the 1st quarter. Osterweis Capital Management Inc. now owns 149,082 shares of the auto parts company's stock valued at $11,442,000 after purchasing an additional 15,355 shares during the last quarter. Inspire Investing LLC raised its position in shares of Modine Manufacturing by 29.8% in the first quarter. Inspire Investing LLC now owns 4,467 shares of the auto parts company's stock valued at $343,000 after purchasing an additional 1,025 shares during the period. Rhumbline Advisers lifted its stake in shares of Modine Manufacturing by 2.2% during the 1st quarter. Rhumbline Advisers now owns 81,418 shares of the auto parts company's stock worth $6,249,000 after buying an additional 1,754 shares during the last quarter. Strs Ohio bought a new stake in shares of Modine Manufacturing during the 1st quarter worth about $307,000. Finally, Intech Investment Management LLC boosted its holdings in shares of Modine Manufacturing by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 34,501 shares of the auto parts company's stock worth $2,648,000 after buying an additional 9,646 shares during the period. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Price Performance

NYSE MOD traded up $2.67 on Thursday, reaching $96.82. The company's stock had a trading volume of 924,002 shares, compared to its average volume of 944,412. The stock has a market cap of $5.07 billion, a PE ratio of 32.49, a PEG ratio of 0.71 and a beta of 2.06. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $146.84. The firm's 50 day moving average is $87.45 and its two-hundred day moving average is $100.19. 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 (NYSE:MOD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. The business had revenue of $647.20 million during the quarter, compared to analyst estimates of $633.13 million. During the same period in the previous year, the company earned $0.77 EPS. The firm's revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Modine Manufacturing will post 3.88 EPS for the current year.

Modine Manufacturing declared that its Board of Directors has authorized a stock repurchase program on Friday, March 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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.