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

Modine Manufacturing (NYSE:MOD - Free Report) had its target price raised by Oppenheimer from $121.00 to $122.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the auto parts company's stock.

Other analysts have also recently issued research reports about the stock. DA Davidson reaffirmed a "buy" rating and set a $155.00 price target on shares of Modine Manufacturing in a research report on Monday, March 17th. Wall Street Zen upgraded Modine Manufacturing from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, KeyCorp began coverage on Modine Manufacturing in a research note on Thursday, June 12th. They set an "overweight" rating and a $125.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $135.50.

Modine Manufacturing Trading Up 2.2%

Shares of MOD traded up $2.25 during mid-day trading on Tuesday, reaching $104.47. 578,701 shares of the company were exchanged, compared to its average volume of 944,723. The business has a 50 day simple moving average of $94.63 and a two-hundred day simple moving average of $96.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. The stock has a market capitalization of $5.47 billion, a PE ratio of 30.55, a PEG ratio of 0.67 and a beta of 2.04. 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 released its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The firm had revenue of $647.20 million during the quarter, compared to analyst estimates of $633.13 million. During the same quarter last year, the business earned $0.77 EPS. The company's revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has authorized a share repurchase program on Friday, March 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds have recently added to or reduced their stakes in MOD. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Modine Manufacturing by 567.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock worth $27,000 after purchasing an additional 193 shares in the last quarter. GAMMA Investing LLC lifted 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 valued at $28,000 after buying an additional 142 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Modine Manufacturing by 245.9% during the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after buying an additional 300 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Modine Manufacturing during the first quarter valued at about $46,000. Finally, First Horizon Advisors Inc. increased its position in shares of Modine Manufacturing by 442.4% during the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after acquiring an additional 522 shares in the last quarter. Institutional investors and hedge funds 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.