Modine Manufacturing (NYSE:MOD) Stock Price Up 4.7%

Modine Manufacturing (NYSE:MOD)’s share price rose 4.7% on Monday . The company traded as high as $112.16 and last traded at $112.16. Approximately 40,256 shares were traded during trading, a decline of 96% from the average daily volume of 924,992 shares. The stock had previously closed at $107.17.

Analyst Ratings Changes

MOD has been the subject of a number of research analyst reports. B. Riley reissued a “buy” rating and set a $125.00 target price on shares of Modine Manufacturing in a research report on Thursday, June 27th. DA Davidson boosted their target price on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Oppenheimer upped their price objective on shares of Modine Manufacturing from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd.

Modine Manufacturing Price Performance

The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 0.85 and a beta of 2.27. The stock’s 50-day moving average price is $100.90 and its 200 day moving average price is $89.45. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.53.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The business had revenue of $603.50 million during the quarter, compared to the consensus estimate of $605.44 million. Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS. Equities research analysts predict that Modine Manufacturing will post 3.7 earnings per share for the current year.

Institutional Trading of Modine Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Riverwater Partners LLC grew its stake in Modine Manufacturing by 0.6% during the first quarter. Riverwater Partners LLC now owns 23,633 shares of the auto parts company’s stock worth $2,250,000 after buying an additional 152 shares during the last quarter. Horizon Investment Services LLC boosted its holdings in shares of Modine Manufacturing by 4.4% in the 1st quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company’s stock worth $434,000 after acquiring an additional 191 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Modine Manufacturing by 0.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 20,895 shares of the auto parts company’s stock worth $1,247,000 after acquiring an additional 192 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Modine Manufacturing by 0.4% in the 1st quarter. Nordea Investment Management AB now owns 82,126 shares of the auto parts company’s stock worth $7,879,000 after acquiring an additional 338 shares in the last quarter. Finally, Strid Group LLC acquired a new position in shares of Modine Manufacturing in the 1st quarter worth approximately $33,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

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.