Modine Manufacturing (NYSE:MOD) Stock Price Up 8.9% – Still a Buy?

Modine Manufacturing Company (NYSE:MOD) traded up 8.9% during trading on Monday . The stock traded as high as $214.66 and last traded at $214.05. 119,168 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,435,960 shares. The stock had previously closed at $196.55.

Analysts Set New Price Targets

Several analysts have recently issued reports on MOD shares. DA Davidson lifted their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Roth Mkm started coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, Oppenheimer increased their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $223.20.

Modine Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The stock’s 50 day simple moving average is $190.71 and its two-hundred day simple moving average is $162.27. The firm has a market capitalization of $11.09 billion, a PE ratio of 117.20, a price-to-earnings-growth ratio of 1.20 and a beta of 1.66.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts forecast that Modine Manufacturing Company will post 3.88 EPS for the current year.

Insider Transactions at Modine Manufacturing

In other news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the transaction, the director owned 79,856 shares in the company, valued at $14,699,093.92. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Modine Manufacturing

A number of hedge funds have recently modified their holdings of MOD. Hsbc Holdings PLC grew its holdings in shares of Modine Manufacturing by 113.6% during the 4th quarter. Hsbc Holdings PLC now owns 5,086 shares of the auto parts company’s stock worth $679,000 after purchasing an additional 2,705 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Modine Manufacturing by 135.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,972 shares of the auto parts company’s stock valued at $263,000 after buying an additional 1,135 shares during the period. World Investment Advisors acquired a new position in Modine Manufacturing in the fourth quarter valued at about $211,000. DUTCH ASSET Corp purchased a new position in Modine Manufacturing during the fourth quarter worth about $1,124,000. Finally, Aristides Capital LLC boosted its stake in Modine Manufacturing by 3.0% during the fourth quarter. Aristides Capital LLC now owns 6,803 shares of the auto parts company’s stock worth $908,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.