Modine Manufacturing (NYSE:MOD) Stock Price Down 5.4% – What’s Next?

Modine Manufacturing (NYSE:MOD) traded down 5.4% on Wednesday . The company traded as low as $131.05 and last traded at $131.25. 181,385 shares were traded during mid-day trading, a decline of 79% from the average session volume of 844,793 shares. The stock had previously closed at $138.80.

Analyst Ratings Changes

MOD has been the subject of several recent research reports. Oppenheimer increased their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. DA Davidson raised their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, B. Riley upped their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $146.67.

Modine Manufacturing Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 43.73, a price-to-earnings-growth ratio of 1.02 and a beta of 2.25. The stock’s 50-day simple moving average is $129.55 and its 200 day simple moving average is $113.15.

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

Institutional Trading of Modine Manufacturing

Hedge funds and other institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in Modine Manufacturing during the 2nd quarter worth about $51,000. West Oak Capital LLC lifted its position in shares of Modine Manufacturing by 300.0% during the second 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 bought a new stake in shares of Modine Manufacturing during the second quarter valued at approximately $64,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Modine Manufacturing in the second quarter valued at approximately $68,000. Finally, Private Trust Co. NA increased its holdings in shares of 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 purchasing an additional 670 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.