Modine Manufacturing Company (NYSE:MOD) Stock Has Consensus Price Target of $309.50 According to Analysts

Shares of Modine Manufacturing Company (NYSE:MOD) have received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $309.50.

Several equities analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. DA Davidson reaffirmed a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, September 29th. B. Riley Financial reaffirmed a “buy” rating and set a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. Finally, Oppenheimer dropped their price objective on Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday, October 2nd.

Hedge Funds Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Modine Manufacturing in the 2nd quarter valued at about $765,540,000. Paradigm Capital Management Inc. NY purchased a new position in Modine Manufacturing during the 2nd quarter worth approximately $388,140,000. Janus Henderson Group PLC increased its position in Modine Manufacturing by 2,249.9% during the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after buying an additional 501,229 shares during the period. Jupiter Topco LLC acquired a new position in Modine Manufacturing during the second quarter worth approximately $123,873,000. Finally, Blue Whale Capital LLP acquired a new position in Modine Manufacturing during the second quarter worth approximately $123,747,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Stock Down 2.0%

Shares of NYSE:MOD traded down $3.39 during trading hours on Tuesday, reaching $169.11. The stock had a trading volume of 219,081 shares, compared to its average volume of 1,376,244. Modine Manufacturing has a 1 year low of $111.18 and a 1 year high of $323.25. The firm’s 50 day moving average is $189.81 and its 200-day moving average is $229.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 63.80, a P/E/G ratio of 0.59 and a beta of 1.71.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The business had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s revenue was up 28.0% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. Research analysts predict that Modine Manufacturing will post 7.68 earnings per share for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company’s products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.