Modine Manufacturing (NYSE:MOD) Stock Price Target Cut by KeyCorp

Modine Manufacturing (NYSE:MOD) had its target price dropped by equities research analysts at KeyCorp from $280.00 to $225.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the auto parts company’s stock. KeyCorp‘s price objective would suggest a potential upside of 78.40% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Zacks Research downgraded shares of Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Cantor Fitzgerald began coverage on Modine Manufacturing in a research report on Tuesday, October 20th. They set an “overweight” rating and a $275.00 price objective on the stock. Finally, Robert W. Baird assumed coverage on Modine Manufacturing in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $300.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $297.33.

Modine Manufacturing Stock Up 2.3%

Shares of MOD opened at $126.12 on Wednesday. The company’s 50-day simple moving average is $171.81 and its 200-day simple moving average is $214.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. Modine Manufacturing has a 1 year low of $111.18 and a 1 year high of $323.25. The stock has a market capitalization of $6.70 billion, a PE ratio of 22.47, a P/E/G ratio of 0.44 and a beta of 1.86.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings data on Tuesday, November 3rd. The auto parts company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.10). The business had revenue of $994.40 million during the quarter, compared to analyst estimates of $978.31 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 EPS. Analysts forecast that Modine Manufacturing will post 7.02 earnings per share for the current fiscal year.

Institutional Trading of Modine Manufacturing

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Modine Manufacturing during the 2nd quarter worth approximately $765,540,000. Paradigm Capital Management Inc. NY acquired a new position in Modine Manufacturing during the second quarter worth approximately $388,140,000. Reinhart Partners LLC. lifted its stake in Modine Manufacturing by 76.4% in the third quarter. Reinhart Partners LLC. now owns 980,220 shares of the auto parts company’s stock valued at $183,497,000 after buying an additional 424,534 shares during the last quarter. Jupiter Topco LLC purchased a new stake in Modine Manufacturing in the second quarter valued at approximately $123,873,000. Finally, Blue Whale Capital LLP purchased a new stake in Modine Manufacturing in the second quarter valued at approximately $123,747,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

About Modine Manufacturing

Modine Manufacturing Company (NYSE: MOD) is a diversified thermal management company that develops and manufactures solutions for managing heat in vehicles, equipment, buildings and industrial systems. Its products are designed to improve efficiency, reliability and performance across a range of applications.

The company serves the automotive, commercial vehicle, off-highway, power generation, data center, heating, ventilation, air conditioning and refrigeration markets. Its offerings include heat exchangers, radiators, charge air coolers, battery and power electronics cooling systems, liquid-cooling equipment, coils and other thermal management components and systems.

Founded in 1916 by Arthur B.