Modine Manufacturing (NYSE:MOD) Price Target Raised to $121.00 at Oppenheimer

Modine Manufacturing (NYSE:MOD - Get Free Report) had its price target boosted by stock analysts at Oppenheimer from $114.00 to $121.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the auto parts company's stock. Oppenheimer's price target suggests a potential upside of 29.98% from the company's current price.

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Separately, DA Davidson restated a "buy" rating and issued a $155.00 price target on shares of Modine Manufacturing in a research report on Monday, March 17th.

View Our Latest Stock Analysis on MOD

Modine Manufacturing Price Performance

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Modine Manufacturing stock traded down $0.17 during midday trading on Thursday, reaching $93.09. The company had a trading volume of 264,530 shares, compared to its average volume of 957,134. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. Modine Manufacturing has a 12-month low of $64.79 and a 12-month high of $146.84. The company has a market capitalization of $4.89 billion, a P/E ratio of 31.31, a P/E/G ratio of 0.71 and a beta of 2.08. The firm's fifty day simple moving average is $85.03 and its 200-day simple moving average is $103.89.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.96 by $0.16. The firm had revenue of $647.20 million during the quarter, compared to analysts' expectations of $633.13 million. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, equities analysts anticipate that Modine Manufacturing will post 3.88 EPS for the current year.

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Modine Manufacturing announced that its board has approved a stock buyback plan on Friday, March 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director William A. Wulfsohn purchased 2,530 shares of the company's stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the transaction, the director now directly owns 7,277 shares in the company, valued at approximately $578,012.11. The trade was a 53.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Modine Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOD. Nisa Investment Advisors LLC boosted its position in Modine Manufacturing by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company's stock valued at $157,000 after buying an additional 82 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Modine Manufacturing by 5.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,006 shares of the auto parts company's stock worth $154,000 after purchasing an additional 105 shares in the last quarter. IFP Advisors Inc increased its holdings in Modine Manufacturing by 14.2% during the 1st quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock worth $70,000 after purchasing an additional 113 shares during the period. Arizona State Retirement System raised its position in Modine Manufacturing by 0.8% in the 4th quarter. Arizona State Retirement System now owns 14,451 shares of the auto parts company's stock valued at $1,675,000 after purchasing an additional 118 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Modine Manufacturing by 8.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,791 shares of the auto parts company's stock worth $208,000 after buying an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.

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