Modine Manufacturing (NYSE:MOD) Reaches New 1-Year Low on Disappointing Earnings

Modine Manufacturing Company (NYSE:MOD)’s share price hit a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $99.61 and last traded at $98.6350, with a volume of 1,478,923 shares trading hands. The stock had previously closed at $125.45.

The auto parts company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.10). The business had revenue of $994.40 million for the quarter, compared to analysts’ expectations of $978.31 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%. Modine Manufacturing’s quarterly revenue was up 34.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 earnings per share.

Wall Street Analysts Forecast Growth

MOD has been the subject of several analyst reports. DA Davidson reaffirmed a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research report on Tuesday, October 27th. Zacks Research lowered shares of Modine Manufacturing from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Robert W. Baird started coverage on Modine Manufacturing in a research note on Tuesday, October 6th. They set an “outperform” rating and a $300.00 price target for the company. B. Riley Financial cut their price target on shares of Modine Manufacturing from $305.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Finally, Oppenheimer reduced their target price on Modine Manufacturing from $300.00 to $260.00 and set an “outperform” rating for the company in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and a consensus price target of $297.33.

Hedge Funds Weigh In On Modine Manufacturing

A number of institutional investors have recently modified their holdings of the company. Optiver Holding B.V. raised its holdings in Modine Manufacturing by 19.7% in the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 39 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Modine Manufacturing by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 13,823 shares of the auto parts company’s stock valued at $3,691,000 after purchasing an additional 52 shares in the last quarter. World Investment Advisors lifted its position in Modine Manufacturing by 4.1% during the first quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock valued at $356,000 after buying an additional 65 shares in the last quarter. Signaturefd LLC boosted its position in Modine Manufacturing by 11.6% during the 3rd quarter. Signaturefd LLC now owns 848 shares of the auto parts company’s stock worth $159,000 after purchasing an additional 88 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Modine Manufacturing by 14.9% in the third quarter. GAMMA Investing LLC now owns 785 shares of the auto parts company’s stock valued at $147,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.

Modine Manufacturing Price Performance

The company has a market cap of $5.20 billion, a PE ratio of 36.81, a price-to-earnings-growth ratio of 0.44 and a beta of 1.86. The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $171.81 and its 200-day moving average price is $214.76.

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.