Modine Manufacturing (NYSE:MOD) Stock Price Up 4.1% – What’s Next?

Modine Manufacturing (NYSE:MOD) rose 4.1% during mid-day trading on Friday . The company traded as high as $134.32 and last traded at $133.44. Approximately 109,439 shares traded hands during trading, a decline of 87% from the average daily volume of 830,165 shares. The stock had previously closed at $128.22.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MOD. DA Davidson increased their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Oppenheimer raised their price objective on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.67.

Modine Manufacturing Trading Up 3.0 %

The business has a 50-day moving average of $130.36 and a 200-day moving average of $115.73. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 43.30, a PEG ratio of 1.01 and a beta of 2.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings data on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 earnings per share. As a group, research analysts forecast that Modine Manufacturing will post 3.83 EPS for the current year.

Institutional Investors Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in Modine Manufacturing by 14.0% in the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after acquiring an additional 543,419 shares during the period. State Street Corp increased its holdings in shares of Modine Manufacturing by 1.5% in the third quarter. State Street Corp now owns 1,219,916 shares of the auto parts company’s stock valued at $161,993,000 after purchasing an additional 18,108 shares during the period. Geode Capital Management LLC raised its stake in shares of Modine Manufacturing by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company’s stock worth $155,522,000 after purchasing an additional 9,648 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Modine Manufacturing by 2.4% during the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock worth $153,072,000 after purchasing an additional 26,527 shares during the period. Finally, Driehaus Capital Management LLC grew its position in Modine Manufacturing by 32.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock valued at $110,403,000 after buying an additional 272,174 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.