Modine Manufacturing (NYSE:MOD) Price Target Raised to $110.00 (2024)

Posted by ABMN Staff on May 25th, 2024

Modine Manufacturing (NYSE:MOD – Get Free Report) had its target price hoisted by equities research analysts at Oppenheimer from $105.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the auto parts company’s stock. Oppenheimer’s target price points to a potential upside of 6.11% from the stock’s current price.

A number of other research analysts have also weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $98.00 target price (up previously from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. StockNews.com lowered shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, DA Davidson reissued a “buy” rating and issued a $90.00 price target on shares of Modine Manufacturing in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.33.

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Modine Manufacturing Stock Performance

NYSE MOD opened at $103.67 on Thursday. The company has a market capitalization of $5.41 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 0.75 and a beta of 2.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.21 and a current ratio of 1.93. Modine Manufacturing has a 52-week low of $22.28 and a 52-week high of $109.53. The company has a 50-day simple moving average of $96.16 and a 200 day simple moving average of $75.78.

Modine Manufacturing (NYSE:MOD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 21st. The auto parts company reported $0.77 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 firm had revenue of $603.50 million during the quarter, compared to analysts’ expectations of $605.44 million. During the same quarter in the previous year, the company posted $0.67 EPS. Modine Manufacturing’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts predict that Modine Manufacturing will post 3.8 EPS for the current year.

Insider Activity at Modine Manufacturing

In other news, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction that occurred 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 directly owns 194,587 shares in the company, valued at $17,577,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Brian Jon Agen sold 16,799 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the sale, the vice president now owns 102,409 shares in the company, valued at $9,794,396.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael B. Lucareli sold 82,312 shares of Modine Manufacturing stock in a transaction on Thursday, February 29th. The stock was 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 directly owns 194,587 shares of the company’s stock, valued at approximately $17,577,043.71. The disclosure for this sale can be found here. Insiders have sold 113,336 shares of company stock worth $10,330,115 over the last 90 days. 2.86% of the stock is owned by company insiders.

Institutional Trading of Modine Manufacturing

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. purchased a new stake in shares of Modine Manufacturing in the fourth quarter worth about $29,000. Strid Group LLC bought a new stake in Modine Manufacturing in the 1st quarter worth approximately $33,000. Acadian Asset Management LLC purchased a new stake in shares of Modine Manufacturing during the 1st quarter worth approximately $37,000. Nisa Investment Advisors LLC boosted its position in shares of Modine Manufacturing by 51.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock valued at $70,000 after acquiring an additional 400 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in shares of Modine Manufacturing in the first quarter valued at $79,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

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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.