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

Shares of Modine Manufacturing Company (NYSE:MOD) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $309.50.

Several analysts recently issued reports on the stock. B. Riley Financial reaffirmed a “buy” rating and issued a $305.00 price target (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Robert W. Baird assumed coverage on shares of Modine Manufacturing in a report on Tuesday, October 6th. They set an “outperform” rating and a $300.00 price objective for the company. KeyCorp reissued an “overweight” rating and issued a $280.00 target price on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th.

Modine Manufacturing Price Performance

Shares of MOD stock opened at $149.63 on Tuesday. The company has a market capitalization of $7.95 billion, a PE ratio of 56.25, a price-to-earnings-growth ratio of 0.53 and a beta of 1.71. The firm has a fifty day simple moving average of $185.91 and a 200-day simple moving average of $227.72. 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.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.26. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%. The business had revenue of $874.10 million for the quarter, compared to analyst estimates of $878.69 million. During the same period in the previous year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. Equities research analysts anticipate that Modine Manufacturing will post 7.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds have recently bought and sold shares of MOD. Pension & Wealth Management Advisors Inc. bought a new position in Modine Manufacturing in the 3rd quarter worth about $253,000. Reinhart Partners LLC. increased its stake in shares of 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 purchasing an additional 424,534 shares during the period. Legacy Wealth Asset Management LLC acquired a new stake in shares of Modine Manufacturing in the third quarter valued at approximately $436,000. Diversified Management Inc. acquired a new stake in shares of Modine Manufacturing in the third quarter valued at approximately $236,000. Finally, GAMMA Investing LLC raised its holdings in shares of Modine Manufacturing by 14.9% during the third quarter. GAMMA Investing LLC now owns 785 shares of the auto parts company’s stock valued at $147,000 after buying an additional 102 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.