DA Davidson Reaffirms Buy Rating for Modine Manufacturing (NYSE:MOD)

by · The Cerbat Gem

Modine Manufacturing (NYSE:MOD – Get Free Report)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $330.00 price target on the auto parts company’s stock. DA Davidson’s target price points to a potential upside of 79.82% from the company’s current price.

Several other research firms also recently issued reports on MOD. KeyCorp reaffirmed an “overweight” rating and set a $280.00 price target on shares of Modine Manufacturing in a research note on Wednesday, September 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. B. Riley Financial reaffirmed a “buy” rating and set a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. Finally, Glj Research reaffirmed a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a research note on Monday, June 1st. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.14.

Read Our Latest Research Report on Modine Manufacturing

Modine Manufacturing Price Performance

Shares of NYSE:MOD traded up $8.48 during midday trading on Tuesday, hitting $183.52. 926,123 shares of the stock were exchanged, compared to its average volume of 1,383,859. The stock has a market cap of $9.75 billion, a P/E ratio of 68.54, a PEG ratio of 0.65 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. Modine Manufacturing has a twelve month low of $111.18 and a twelve month high of $323.25. The company has a 50 day moving average price of $197.01 and a 200-day moving average price of $231.09.

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

Institutional Trading of Modine Manufacturing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing in the 1st quarter valued at about $25,000. Rakuten Securities Inc. purchased a new stake in Modine Manufacturing in the 2nd quarter valued at about $40,000. PenderFund Capital Management Ltd. purchased a new stake in Modine Manufacturing in the 2nd quarter valued at about $42,000. Vega Investment Solutions purchased a new stake in Modine Manufacturing in the 2nd quarter valued at about $52,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in Modine Manufacturing in the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

(Get Free Report)

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal-management company that develops and manufactures products and systems for commercial, industrial, transportation, and building applications. Its solutions are designed to transfer and control heat, improve energy efficiency, and support the operation of engines, vehicles, data centers, and other equipment.

The company operates through businesses focused on climate solutions and performance technologies. Its products and services include heat exchangers, cooling modules, radiators, charge-air coolers, heating and air-conditioning systems, refrigeration and data-center cooling equipment, and thermal-management solutions for electric vehicles and other specialized applications.

Founded in 1916, Modine serves customers in markets worldwide through manufacturing, engineering, and sales operations across North America, Europe, and Asia.

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