Modine Manufacturing (NYSE:MOD) Shares Gap Up – Should You Buy?

Shares of Modine Manufacturing (NYSE:MOD) gapped up prior to trading on Friday . The stock had previously closed at $79.40, but opened at $81.79. Modine Manufacturing shares last traded at $80.98, with a volume of 313,177 shares.

Wall Street Analyst Weigh In

Separately, Oppenheimer lifted their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st.

Modine Manufacturing Trading Up 6.6 %

The firm has a market capitalization of $4.45 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 0.71 and a beta of 2.31. The stock has a 50-day simple moving average of $109.87 and a two-hundred day simple moving average of $119.19. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Tuesday, February 4th. The auto parts company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. On average, equities research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ grew its stake in Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after purchasing an additional 193 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Modine Manufacturing by 97.8% during the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after acquiring an additional 269 shares in the last quarter. Private Trust Co. NA lifted its position in Modine Manufacturing by 650.5% during 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 during the last quarter. Farther Finance Advisors LLC lifted its position in Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after acquiring an additional 491 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after acquiring an additional 82 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

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.