Modine Manufacturing’s (MOD) Overweight Rating Reaffirmed at KeyCorp

Modine Manufacturing (NYSE:MOD)‘s stock had its “overweight” rating reissued by stock analysts at KeyCorp in a note issued to investors on Wednesday, Benzinga reports. They presently have a $280.00 price objective on the auto parts company’s stock. KeyCorp’s target price points to a potential upside of 54.80% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. B. Riley Financial restated a “buy” rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. DA Davidson reissued a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a report on Monday, June 22nd. Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. UBS Group upped their price objective on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Stock Up 1.4%

MOD stock opened at $180.88 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $217.80 and a 200-day simple moving average of $234.97. The company has a market capitalization of $9.61 billion, a P/E ratio of 68.00, a PEG ratio of 0.58 and a beta of 1.74. Modine Manufacturing has a twelve month low of $111.18 and a twelve month high of $323.25.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.26. The firm had revenue of $874.10 million for the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. On average, equities research analysts predict that Modine Manufacturing will post 7.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Modine Manufacturing news, Director Eric D. Ashleman sold 15,000 shares of Modine Manufacturing stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares in the company, valued at $12,219,669. The trade was a 26.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric S. Mcginnis sold 1,020 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total value of $300,961.20. Following the sale, the insider owned 28,364 shares in the company, valued at $8,369,081.84. The trade was a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,302 shares of company stock valued at $15,928,759 over the last quarter. Insiders own 1.92% of the company’s stock.

Institutional Trading of Modine Manufacturing

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Modine Manufacturing by 26.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Modine Manufacturing by 8.3% during the second quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock valued at $6,767,000 after buying an additional 5,244 shares during the last quarter. State Street Corp raised its holdings in shares of Modine Manufacturing by 4.2% during the second quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock valued at $128,985,000 after buying an additional 53,351 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Modine Manufacturing by 106.3% during the second quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock valued at $15,890,000 after buying an additional 83,105 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Modine Manufacturing by 70.8% during the second quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after buying an additional 128,348 shares during the period. 95.23% of the stock is currently owned by institutional investors.

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.