Oppenheimer Increases Modine Manufacturing (NYSE:MOD) Price Target to $110.00

Modine Manufacturing (NYSE:MOD) had its target price boosted by Oppenheimer from $105.00 to $110.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

MOD has been the subject of several other reports. B. Riley reiterated a buy rating and set a $98.00 target price (up from $88.00) on shares of Modine Manufacturing in a research note on Tuesday, February 27th. StockNews.com cut shares of Modine Manufacturing from a buy rating to a hold rating in a research note on Wednesday, January 31st. Finally, DA Davidson restated a buy rating and set a $90.00 price target on shares of Modine Manufacturing in a research note on Tuesday, February 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $109.33.

Modine Manufacturing Trading Up 7.3 %

Modine Manufacturing stock opened at $103.75 on Thursday. Modine Manufacturing has a 52 week low of $22.28 and a 52 week high of $109.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.21 and a current ratio of 1.64. The firm has a market capitalization of $5.43 billion, a PE ratio of 34.24, a PEG ratio of 0.76 and a beta of 2.28. The business’s 50-day simple moving average is $96.16 and its 200-day simple moving average is $76.02.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. The business had revenue of $603.50 million during the quarter, compared to analyst estimates of $605.44 million. During the same period last year, the business earned $0.67 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts forecast that Modine Manufacturing will post 3.72 earnings per share for the current year.

Insider Activity

In other news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the sale, the chief financial officer now directly owns 194,587 shares in the company, valued at approximately $17,577,043.71. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Modine Manufacturing news, Director Christopher William Patterson sold 14,225 shares of Modine Manufacturing stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.56, for a total transaction of $1,288,216.00. Following the completion of the transaction, the director now directly owns 97,517 shares of the company’s stock, valued at $8,831,139.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael B. Lucareli sold 82,312 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $90.33, for a total transaction of $7,435,242.96. Following the completion of the sale, the chief financial officer now owns 194,587 shares in the company, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,336 shares of company stock worth $10,330,115. 2.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

Several institutional investors have recently added to or reduced their stakes in MOD. Principal Securities Inc. bought a new stake in Modine Manufacturing during the fourth quarter worth about $29,000. Strid Group LLC bought a new stake in Modine Manufacturing during the 1st quarter worth approximately $33,000. Acadian Asset Management LLC acquired a new stake in Modine Manufacturing during the 1st quarter valued at $37,000. Nisa Investment Advisors LLC increased its holdings in Modine Manufacturing by 51.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 400 shares in the last quarter. Finally, Spire Wealth Management bought a new position in Modine Manufacturing in the 1st quarter valued at $79,000. 95.23% of the stock is owned by institutional investors.

About Modine Manufacturing

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.