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Modine Manufacturing (NYSE:MOD) Price Target Increased to $20.00 by Analysts at DA Davidson

Defense World ·  Aug 16, 2022 04:41

Modine Manufacturing (NYSE:MOD – Get Rating) had its price objective lifted by DA Davidson to $20.00 in a report published on Monday morning, Stock Target Advisor reports.

Separately, StockNews.com raised shares of Modine Manufacturing from a buy rating to a strong-buy rating in a report on Friday, August 5th.

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Modine Manufacturing Stock Performance

Shares of MOD stock opened at $17.14 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.57. Modine Manufacturing has a one year low of $7.67 and a one year high of $17.16. The company's 50-day simple moving average is $12.06 and its 200-day simple moving average is $10.22. The stock has a market capitalization of $890.82 million, a price-to-earnings ratio of 9.26, a PEG ratio of 0.39 and a beta of 2.34.

Modine Manufacturing (NYSE:MOD – Get Rating) last issued its quarterly earnings results on Wednesday, May 25th. The auto parts company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. Modine Manufacturing had a net margin of 4.64% and a return on equity of 16.65%. The business had revenue of $574.40 million for the quarter. During the same period in the previous year, the business posted $0.51 EPS. Equities analysts anticipate that Modine Manufacturing will post 1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael B. Lucareli sold 3,783 shares of Modine Manufacturing stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $11.94, for a total transaction of $45,169.02. Following the sale, the chief financial officer now owns 274,572 shares of the company's stock, valued at $3,278,389.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in shares of Modine Manufacturing by 5.8% during the second quarter. Bank of Montreal Can now owns 15,128 shares of the auto parts company's stock valued at $186,000 after buying an additional 834 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Modine Manufacturing by 9.4% during the second quarter. BNP Paribas Arbitrage SA now owns 15,064 shares of the auto parts company's stock valued at $159,000 after buying an additional 1,292 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Modine Manufacturing by 1.4% during the first quarter. Royal Bank of Canada now owns 103,123 shares of the auto parts company's stock valued at $929,000 after buying an additional 1,460 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Modine Manufacturing by 11.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,624 shares of the auto parts company's stock valued at $175,000 after acquiring an additional 1,870 shares during the period. Finally, Investors Research Corp increased its stake in shares of Modine Manufacturing by 20.4% during the first quarter. Investors Research Corp now owns 11,200 shares of the auto parts company's stock valued at $101,000 after acquiring an additional 1,900 shares during the period. Institutional investors own 94.42% of the company's stock.

Modine Manufacturing Company Profile

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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.

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