Modine Manufacturing (NYSE:MOD) Stock Price Up 3.2% on Analyst Upgrade

Shares of Modine Manufacturing (NYSE:MOD) were up 3.2% during mid-day trading on Thursday after Oppenheimer raised their price target on the stock from $105.00 to $110.00. Oppenheimer currently has an outperform rating on the stock. Modine Manufacturing traded as high as $101.13 and last traded at $99.84. Approximately 180,593 shares were traded during trading, a decline of 81% from the average daily volume of 948,724 shares. The stock had previously closed at $96.75.

A number of other research analysts have also recently commented on the company. DA Davidson reiterated a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a research note on Tuesday, February 27th. StockNews.com cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, 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 report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Modine Manufacturing presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.33.

Insider Transactions at Modine Manufacturing

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

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently added to or reduced their stakes in the company. Riverwater Partners LLC lifted its holdings in shares of Modine Manufacturing by 0.6% in the 1st quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock worth $2,250,000 after purchasing an additional 152 shares in the last quarter. Horizon Investment Services LLC lifted its stake in shares of Modine Manufacturing by 4.4% in the first quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock valued at $434,000 after buying an additional 191 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Modine Manufacturing by 0.9% during the fourth quarter. SummerHaven Investment Management LLC now owns 20,895 shares of the auto parts company’s stock valued at $1,247,000 after buying an additional 192 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Modine Manufacturing by 0.4% during the first quarter. Nordea Investment Management AB now owns 82,126 shares of the auto parts company’s stock worth $7,879,000 after acquiring an additional 338 shares in the last quarter. Finally, Strid Group LLC acquired a new stake in shares of Modine Manufacturing in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Stock Performance

The firm has a market cap of $5.05 billion, a P/E ratio of 31.92, a PEG ratio of 0.77 and a beta of 2.28. The company has a current ratio of 1.93, a quick ratio of 1.21 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average is $95.86 and its two-hundred day moving average is $75.34.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.02). Modine Manufacturing had a net margin of 6.71% and a return on equity of 25.33%. The company had revenue of $603.50 million for the quarter, compared to analysts’ expectations of $605.44 million. During the same period in the previous year, the firm earned $0.67 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities analysts predict that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Modine Manufacturing Company Profile

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.