Modine Manufacturing (NYSE:MOD) Sets New 1-Year High After Analyst Upgrade

Modine Manufacturing Company (NYSE:MOD)’s share price hit a new 52-week high during trading on Tuesday after DA Davidson raised their price target on the stock from $255.00 to $265.00. DA Davidson currently has a buy rating on the stock. Modine Manufacturing traded as high as $224.70 and last traded at $219.27, with a volume of 1496747 shares changing hands. The stock had previously closed at $215.72.

MOD has been the topic of a number of other research reports. KeyCorp raised their price objective on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Oppenheimer increased their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. UBS Group assumed coverage on Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 target price on the stock. Finally, Zacks Research raised Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing presently has a consensus rating of “Buy” and an average target price of $213.25.

Insiders Place Their Bets

In other Modine Manufacturing news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares in the company, valued at $38,263,374.72. This represents a 11.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the transaction, the director owned 79,856 shares of the company’s stock, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 34,071 shares of company stock worth $5,484,685 in the last ninety days. Corporate insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

A number of large investors have recently modified their holdings of MOD. Parkside Financial Bank & Trust lifted its position in shares of Modine Manufacturing by 17.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 75 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Modine Manufacturing by 0.8% in the second quarter. Handelsbanken Fonder AB now owns 13,100 shares of the auto parts company’s stock valued at $1,290,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Modine Manufacturing by 3.4% during the 4th quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock worth $421,000 after buying an additional 103 shares during the last quarter. Intrust Bank NA lifted its holdings in Modine Manufacturing by 2.3% during the 3rd quarter. Intrust Bank NA now owns 4,919 shares of the auto parts company’s stock worth $699,000 after buying an additional 109 shares during the last quarter. Finally, BCS Private Wealth Management Inc. boosted its position in shares of Modine Manufacturing by 2.8% during the 3rd quarter. BCS Private Wealth Management Inc. now owns 4,525 shares of the auto parts company’s stock worth $643,000 after acquiring an additional 125 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 0.0%

The business has a fifty day moving average price of $152.26 and a 200 day moving average price of $147.67. The firm has a market cap of $11.59 billion, a PE ratio of 122.07, a P/E/G ratio of 1.34 and a beta of 1.71. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $805.00 million during the quarter, compared to the consensus estimate of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 earnings per share. Analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current year.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.