Modine Manufacturing (NYSE:MOD) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Modine Manufacturing (NYSE:MOD) to a strong-buy rating in a report released on Monday morning,Zacks reports.

A number of other equities analysts also recently issued reports on the stock. KeyCorp reaffirmed an “overweight” rating and set a $280.00 price objective on shares of Modine Manufacturing in a report on Wednesday, September 2nd. Wall Street Zen downgraded shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Oppenheimer dropped their price target on shares of Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating on the stock in a research report on Friday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $309.50.

Modine Manufacturing Trading Down 0.2%

MOD opened at $189.51 on Monday. The firm has a market capitalization of $10.06 billion, a PE ratio of 71.24, a P/E/G ratio of 0.62 and a beta of 1.71. Modine Manufacturing has a fifty-two week low of $111.18 and a fifty-two week high of $323.25. The company’s 50-day moving average is $190.92 and its 200 day moving average is $230.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22.

Modine Manufacturing (NYSE:MOD) last announced 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%.Modine Manufacturing’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. As a group, research analysts predict that Modine Manufacturing will post 7.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

Several large investors have recently made changes to their positions in MOD. BlackRock Inc. purchased a new position in shares of Modine Manufacturing in the 2nd quarter worth about $765,540,000. Paradigm Capital Management Inc. NY purchased a new stake in Modine Manufacturing during the second quarter worth about $388,140,000. Janus Henderson Group PLC increased its holdings in Modine Manufacturing by 2,249.9% during the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after buying an additional 501,229 shares during the last quarter. Jupiter Topco LLC bought a new stake in Modine Manufacturing in the second quarter worth about $123,873,000. Finally, Blue Whale Capital LLP bought a new stake in Modine Manufacturing in the second quarter worth about $123,747,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Modine Manufacturing

Here are the key news stories impacting Modine Manufacturing this week:

• Positive Sentiment: Robert W. Baird upgraded Modine to “Strong Buy” and initiated coverage with an “Outperform” rating and a $300 price target. The target implies substantial upside from recent levels and reflects confidence in Modine’s streamlined focus on data-center cooling, commercial HVAC and refrigeration. Baird starts coverage of Modine Manufacturing stock as spin-off closes
• Positive Sentiment: The post-spin-off strategy is supporting a higher-growth investment story. Modine received approximately $156 million in cash from separating Performance Technologies and used the proceeds to repay debt. Investors are also focused on strong data-center demand, including reported fourth-quarter sales growth and a long-term chiller agreement valued at approximately $4 billion. Modine Manufacturing Stock Rises as Investors Digest Post-Spin Focus
• Positive Sentiment: Analyst targets remain well above the current share price. Recent targets range from $264 to $370, with a reported median of $330. Zacks also highlights Modine’s growth characteristics as a reason growth-oriented investors may consider the stock. Why growth investors should buy Modine
• Neutral Sentiment: Institutional positioning is mixed. Hundreds of investors adjusted their holdings, with some major institutions reducing exposure while others added shares. This suggests differing views on the post-spin-off valuation and outlook.
• Negative Sentiment: Insider trading is a notable overhang. QuiverQuant reported 29 open-market insider sales and no purchases during the past six months. The stock also trades at a relatively high trailing P/E, increasing sensitivity to profit-taking or any slowdown in data-center growth.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal management company that develops and manufactures technologies for controlling and transferring heat. Founded in 1916 and headquartered in Racine, Wisconsin, Modine serves customers in the automotive, commercial and industrial, data center, HVAC, refrigeration, and other specialized markets.

The company’s products and systems include heat exchangers, cooling modules, coils, radiators, condensers, fans, thermal management systems, and related components.