Modine Manufacturing (NYSE:MOD) Stock Price Up 5.6% – Here’s What Happened

Modine Manufacturing Company (NYSE:MOD) shares were up 5.6% on Tuesday. The stock traded as high as $183.50 and last traded at $184.8820. Approximately 226,475 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,380,205 shares. The stock had previously closed at $175.04.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $330.00 price target on shares of Modine Manufacturing in a research report on Tuesday. B. Riley Financial reissued a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Glj Research restated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a report on Tuesday, August 25th. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $320.14.

Modine Manufacturing Stock Up 4.5%

The stock’s fifty day simple moving average is $197.01 and its two-hundred day simple moving average is $231.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 69.15, a PEG ratio of 0.65 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same period in the previous year, the business posted $0.95 EPS. The company’s quarterly revenue was up 28.0% on a year-over-year basis. On average, sell-side analysts predict that Modine Manufacturing Company will post 7.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of Modine Manufacturing during the first quarter valued at approximately $25,000. Rakuten Securities Inc. bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth approximately $40,000. PenderFund Capital Management Ltd. acquired a new position in Modine Manufacturing during the 2nd quarter valued at approximately $42,000. Vega Investment Solutions acquired a new position in Modine Manufacturing during the 2nd quarter valued at approximately $52,000. Finally, TD Waterhouse Canada Inc. bought a new position in Modine Manufacturing during the 2nd quarter worth $55,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal-management company that develops and manufactures products and systems for commercial, industrial, transportation, and building applications. Its solutions are designed to transfer and control heat, improve energy efficiency, and support the operation of engines, vehicles, data centers, and other equipment.

The company operates through businesses focused on climate solutions and performance technologies. Its products and services include heat exchangers, cooling modules, radiators, charge-air coolers, heating and air-conditioning systems, refrigeration and data-center cooling equipment, and thermal-management solutions for electric vehicles and other specialized applications.

Founded in 1916, Modine serves customers in markets worldwide through manufacturing, engineering, and sales operations across North America, Europe, and Asia.