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

Modine Manufacturing logo with Auto/Tires/Trucks background

Modine Manufacturing (NYSE:MOD - Get Free Report) has been assigned a consensus recommendation of "Buy" from the five research firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $135.25.

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

Check Out Our Latest Stock Report on MOD

Modine Manufacturing Trading Down 3.4%

Shares of MOD stock traded down $3.26 during trading on Thursday, hitting $93.81. 962,171 shares of the stock traded hands, compared to its average volume of 948,585. The firm has a market capitalization of $4.91 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 0.71 and a beta of 2.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The firm's fifty day moving average price is $88.38 and its 200-day moving average price is $99.36. Modine Manufacturing has a 52-week low of $64.79 and a 52-week high of $146.84.

Modine Manufacturing (NYSE:MOD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.16. The company had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. As a group, research analysts forecast that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has approved a stock buyback program on Friday, March 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to reacquire 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 stock is undervalued.

Hedge Funds Weigh In On Modine Manufacturing

Institutional investors have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after acquiring an additional 193 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Modine Manufacturing by 245.9% in the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Modine Manufacturing by 97.8% during the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock worth $63,000 after purchasing an additional 269 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Modine Manufacturing during the first quarter worth $46,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Company Profile

(Get Free Report

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.

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