Roth Mkm Begins Coverage on Modine Manufacturing (NYSE:MOD)

Investment analysts at Roth Mkm started coverage on shares of Modine Manufacturing (NYSE:MOD) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $263.00 price target on the auto parts company’s stock. Roth Mkm’s price objective would indicate a potential upside of 21.08% from the company’s previous close.

Other analysts have also issued reports about the stock. Zacks Research upgraded shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. UBS Group initiated coverage on Modine Manufacturing in a report on Thursday, November 20th. They issued a “buy” rating and a $173.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Monday, December 29th. DA Davidson boosted their price objective on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a report on Monday, February 9th. Finally, Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $223.20.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $217.22 on Wednesday. Modine Manufacturing has a twelve month low of $64.79 and a twelve month high of $235.02. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $11.45 billion, a P/E ratio of 120.68, a PEG ratio of 1.32 and a beta of 1.71. The stock’s 50 day moving average is $157.00 and its 200 day moving average is $150.59.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $763.54 million. During the same period in the prior year, the firm posted $0.92 earnings per share. The company’s quarterly revenue was up 30.5% on a year-over-year basis. On average, equities research analysts predict that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Insider Activity

In other 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 value of $5,117,207.76. Following the completion of the transaction, the chief executive officer owned 238,312 shares of the company’s stock, valued at $38,263,374.72. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the sale, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. This trade represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,071 shares of company stock worth $5,484,685 over the last 90 days. Company insiders own 2.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caption Management LLC bought a new stake in shares of Modine Manufacturing in the fourth quarter worth about $1,453,000. Balyasny Asset Management L.P. increased its stake in Modine Manufacturing by 709.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 456,482 shares of the auto parts company’s stock worth $60,945,000 after acquiring an additional 400,081 shares during the last quarter. Aventail Capital Group LP bought a new stake in shares of Modine Manufacturing in the 4th quarter valued at approximately $53,721,000. Boothbay Fund Management LLC increased its position in shares of Modine Manufacturing by 167.9% during the 4th quarter. Boothbay Fund Management LLC now owns 23,172 shares of the auto parts company’s stock valued at $3,094,000 after purchasing an additional 14,524 shares during the last quarter. Finally, Ardsley Advisory Partners LP bought a new position in shares of Modine Manufacturing during the 4th quarter valued at approximately $481,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.