Oppenheimer Forecasts Strong Price Appreciation for Modine Manufacturing (NYSE:MOD) Stock

Key Points

• Oppenheimer has raised its target price for Modine Manufacturing from $145.00 to $180.00, indicating a potential upside of 20.32% from current levels and maintaining an "outperform" rating on the stock.
• Modine Manufacturing reported earnings of $1.06 per share for the previous quarter, exceeding estimates by $0.13, and achieved a revenue of $682.8 million, up 3.2% year-over-year.
• Despite positive assessments from some analysts, there have been mixed ratings, with Weiss Ratings holding at "C+", and others like Zacks and Wall Street Zen downgrading their ratings to "hold".

Modine Manufacturing (NYSE:MOD - Get Free Report) had its target price boosted by research analysts at Oppenheimer from $145.00 to $180.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the auto parts company's stock. Oppenheimer's price target would suggest a potential upside of 20.32% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Modine Manufacturing in a research note on Wednesday, October 8th. DA Davidson reiterated a "buy" rating and issued a $185.00 target price on shares of Modine Manufacturing in a research note on Monday, September 29th. Wall Street Zen downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Zacks Research downgraded shares of Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Finally, KeyCorp raised their price objective on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an "overweight" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Modine Manufacturing currently has a consensus rating of "Moderate Buy" and an average price target of $180.00.

Modine Manufacturing Stock Down 0.0%

Shares of MOD stock traded down $0.05 during trading on Tuesday, reaching $149.60. The company's stock had a trading volume of 93,987 shares, compared to its average volume of 1,119,726. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 42.86, a price-to-earnings-growth ratio of 0.92 and a beta of 2.06. Modine Manufacturing has a one year low of $64.79 and a one year high of $159.54. The business has a fifty day moving average price of $142.97 and a 200-day moving average price of $110.24. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The firm had revenue of $682.80 million for the quarter, compared to analyst estimates of $653.80 million. During the same period in the previous year, the business earned $1.04 EPS. The company's revenue was up 3.2% compared to the same quarter last year. Modine Manufacturing has set its FY 2026 guidance at EPS. Analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

Insider Activity at Modine Manufacturing

In other news, EVP Michael B. Lucareli sold 80,661 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $128.33, for a total transaction of $10,351,226.13. Following the transaction, the executive vice president directly owned 66,920 shares of the company's stock, valued at approximately $8,587,843.60. This trade represents a 54.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Suresh V. Garimella sold 14,204 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $140.29, for a total transaction of $1,992,679.16. Following the transaction, the director directly owned 82,056 shares in the company, valued at $11,511,636.24. This represents a 14.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 239,938 shares of company stock valued at $31,001,392. 2.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MOD. Farther Finance Advisors LLC raised its position in Modine Manufacturing by 422.2% during the first quarter. Farther Finance Advisors LLC now owns 2,475 shares of the auto parts company's stock valued at $199,000 after purchasing an additional 2,001 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Modine Manufacturing by 63.1% during the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock worth $28,000 after buying an additional 142 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Modine Manufacturing during the first quarter worth $460,000. Janney Montgomery Scott LLC grew its stake in shares of Modine Manufacturing by 159.7% during the first quarter. Janney Montgomery Scott LLC now owns 9,976 shares of the auto parts company's stock worth $766,000 after buying an additional 6,134 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Modine Manufacturing by 32.4% during the first quarter. Johnson Investment Counsel Inc. now owns 3,446 shares of the auto parts company's stock worth $264,000 after buying an additional 843 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.

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