Modine Manufacturing (NYSE:MOD) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Modine Manufacturing (NYSE:MOD) in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $275.00 target price on the auto parts company’s stock.

MOD has been the subject of a number of other reports. Robert W. Baird began coverage on Modine Manufacturing in a research note on Tuesday, October 6th. They set an “outperform” rating and a $300.00 target price on the stock. DA Davidson reiterated a “buy” rating and issued a $330.00 target price on shares of Modine Manufacturing in a report on Tuesday, September 29th. Oppenheimer reduced their price target on shares of Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating for the company in a research report on Friday, October 2nd. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Zacks Research downgraded shares of Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and a consensus price target of $305.67.

Modine Manufacturing Price Performance

MOD opened at $134.60 on Tuesday. The stock has a fifty day moving average of $182.45 and a 200-day moving average of $226.10. The firm has a market capitalization of $7.15 billion, a P/E ratio of 27.28, a PEG ratio of 0.53 and a beta of 1.71. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results 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 the consensus estimate of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%. Modine Manufacturing’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. Equities analysts forecast that Modine Manufacturing will post 7.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Modine Manufacturing during the 2nd quarter worth about $765,540,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Modine Manufacturing during the 2nd quarter valued at about $388,140,000. Janus Henderson Group PLC grew its stake in shares of Modine Manufacturing by 2,249.9% in the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock valued at $113,459,000 after buying an additional 501,229 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Modine Manufacturing in the 2nd quarter valued at approximately $123,873,000. Finally, Blue Whale Capital LLP acquired a new position in Modine Manufacturing in the second quarter worth approximately $123,747,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

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.