Modine Manufacturing (NYSE:MOD) Trading Up 4.1% – Here’s Why

Modine Manufacturing (NYSE:MOD)’s share price rose 4.1% during trading on Friday . The stock traded as high as $134.32 and last traded at $133.44. Approximately 109,439 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 830,165 shares. The stock had previously closed at $128.22.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MOD shares. DA Davidson increased their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Oppenheimer increased their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Price Performance

The company has a fifty day moving average of $130.36 and a 200-day moving average of $115.73. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The stock has a market cap of $6.93 billion, a PE ratio of 43.30, a P/E/G ratio of 1.01 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. Sell-side analysts expect that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Institutional Trading of Modine Manufacturing

A number of large investors have recently modified their holdings of MOD. West Oak Capital LLC grew its stake in Modine Manufacturing by 300.0% during the 2nd quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock worth $60,000 after purchasing an additional 450 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Modine Manufacturing during the second quarter worth approximately $64,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Modine Manufacturing during the second quarter worth approximately $68,000. Private Trust Co. NA raised its holdings in Modine Manufacturing by 650.5% in the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in Modine Manufacturing by 9.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after acquiring an additional 104 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.