Modine Manufacturing (NYSE:MOD) Reaches New 12-Month High – What’s Next?

Modine Manufacturing (NYSE:MOD) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $140.96 and last traded at $139.39, with a volume of 80034 shares traded. The stock had previously closed at $134.23.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Oppenheimer boosted their target price on Modine Manufacturing from $135.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday. DA Davidson boosted their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. B. Riley boosted their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, William Blair initiated coverage on Modine Manufacturing in a report on Monday, July 29th. They set an “outperform” rating on the stock. One investment 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 stock has an average rating of “Moderate Buy” and a consensus price target of $146.33.

Modine Manufacturing Stock Performance

The firm has a fifty day simple moving average of $118.35 and a 200-day simple moving average of $105.88. The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 1.02 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. The company had revenue of $661.50 million during the quarter, compared to analysts’ expectations of $633.55 million. Modine Manufacturing had a net margin of 6.70% and a return on equity of 24.92%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. Analysts forecast that Modine Manufacturing will post 3.86 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 34,400 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the sale, the director now owns 144,038 shares in the company, valued at approximately $15,806,730.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Modine Manufacturing

A number of large investors have recently made changes to their positions in the company. Harbour Capital Advisors LLC increased its position in shares of Modine Manufacturing by 77.2% in the 3rd quarter. Harbour Capital Advisors LLC now owns 5,095 shares of the auto parts company’s stock valued at $683,000 after buying an additional 2,220 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Modine Manufacturing in the 3rd quarter valued at $230,000. Creative Planning increased its position in shares of Modine Manufacturing by 52.3% in the 3rd quarter. Creative Planning now owns 14,764 shares of the auto parts company’s stock valued at $1,961,000 after buying an additional 5,068 shares in the last quarter. Oliver Luxxe Assets LLC increased its position in shares of Modine Manufacturing by 33.8% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 51,120 shares of the auto parts company’s stock valued at $6,788,000 after buying an additional 12,904 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in Modine Manufacturing during the 3rd quarter worth about $199,000. Institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

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.