Modine Manufacturing (NYSE:MOD) Shares Gap Up – Here’s Why

Modine Manufacturing Company (NYSE:MOD)’s share price gapped up prior to trading on Wednesday. The stock had previously closed at $136.51, but opened at $143.01. Modine Manufacturing shares last traded at $140.1530, with a volume of 180,971 shares traded.

More Modine Manufacturing News

Here are the key news stories impacting Modine Manufacturing this week:

• Positive Sentiment: Analysts maintain bullish ratings. B. Riley kept its “Buy” rating while lowering its price target to $285 from $305. DA Davidson also reaffirmed its “Buy” rating, indicating that analysts continue to see long-term value in Modine despite recent weakness. B. Riley Adjusts Price Target on Modine Manufacturing DA Davidson Reaffirms Buy Rating
• Neutral Sentiment: Investor attention has increased. Modine has recently attracted elevated interest from Zacks.com users, which may increase trading activity but does not by itself alter the company’s fundamentals. Modine Attracts Investor Attention
• Neutral Sentiment: Leadership compensation agreements were revised. Modine updated executive severance and equity arrangements. The changes may support management retention, although they provide limited immediate insight into earnings or valuation. Modine Revises Executive Agreements
• Negative Sentiment: Relative market weakness and a target-price cut pressured the stock. Modine declined more than the broader market during the latest session. Although B. Riley remains positive, its lower target signals reduced near-term valuation expectations and likely contributed to selling pressure. Why Modine Dipped More Than the Broader Market

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. KeyCorp reissued an “overweight” rating and set a $280.00 price objective on shares of Modine Manufacturing in a research note on Wednesday, September 2nd. Zacks Research downgraded shares of Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. DA Davidson reiterated a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a report on Tuesday. Robert W. Baird started coverage on Modine Manufacturing in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $300.00 price target on the stock. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average price target of $303.44.

Modine Manufacturing Trading Down 3.3%

The stock’s 50 day moving average is $175.76 and its 200-day moving average is $214.76. The company has a market cap of $7.38 billion, a P/E ratio of 26.15, a PEG ratio of 0.51 and a beta of 1.71. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The business had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. Modine Manufacturing’s revenue was up 28.0% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. Research analysts anticipate that Modine Manufacturing Company will post 7.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Modine Manufacturing during the second quarter valued at approximately $765,540,000. Paradigm Capital Management Inc. NY bought a new position in Modine Manufacturing in the second quarter worth approximately $388,140,000. Reinhart Partners LLC. raised its position in Modine Manufacturing by 76.4% in the third quarter. Reinhart Partners LLC. now owns 980,220 shares of the auto parts company’s stock worth $183,497,000 after acquiring an additional 424,534 shares during the period. Janus Henderson Group PLC raised its position in Modine Manufacturing by 2,249.9% in the first quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after acquiring an additional 501,229 shares during the period. Finally, Jupiter Topco LLC purchased a new position in shares of Modine Manufacturing during the 2nd quarter worth $123,873,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE: MOD) is a diversified thermal management company that develops and manufactures solutions for managing heat in vehicles, equipment, buildings and industrial systems. Its products are designed to improve efficiency, reliability and performance across a range of applications.

The company serves the automotive, commercial vehicle, off-highway, power generation, data center, heating, ventilation, air conditioning and refrigeration markets. Its offerings include heat exchangers, radiators, charge air coolers, battery and power electronics cooling systems, liquid-cooling equipment, coils and other thermal management components and systems.

Founded in 1916 by Arthur B.