Modine Manufacturing (NYSE:MOD) Trading Down 8.2% – What’s Next?

by · The Markets Daily

Modine Manufacturing Company (NYSE:MOD – Get Free Report) shares dropped 8.2% during mid-day trading on Friday . The stock traded as low as $151.28 and last traded at $151.6350. Approximately 225,947 shares were traded during trading, a decline of 80% from the average daily volume of 1,117,057 shares. The stock had previously closed at $165.19.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. DA Davidson reiterated a “buy” rating and issued a $200.00 price target on shares of Modine Manufacturing in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday. UBS Group began coverage on Modine Manufacturing in a report on Thursday, November 20th. They set a “buy” rating and a $173.00 price target on the stock. Zacks Research lowered Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, KeyCorp increased their target price on Modine Manufacturing from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Check Out Our Latest Stock Report on Modine Manufacturing

Modine Manufacturing Trading Down 11.5%

The company has a market capitalization of $7.69 billion, a P/E ratio of 42.45, a PEG ratio of 1.04 and a beta of 1.69. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.16 and a current ratio of 2.00. The stock has a fifty day moving average of $152.51 and a 200 day moving average of $130.38.

Modine Manufacturing (NYSE:MOD – Get Free Report) last issued its quarterly earnings results on Tuesday, October 28th. The auto parts company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. The business had revenue of $738.90 million during the quarter, compared to analysts’ expectations of $699.91 million. Modine Manufacturing had a return on equity of 23.19% and a net margin of 6.93%.The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 earnings per share. As a group, equities research analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total transaction of $5,117,207.76. Following the completion of the sale, the chief executive officer owned 238,312 shares in the company, valued at approximately $38,263,374.72. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Modine Manufacturing

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp purchased a new position in shares of Modine Manufacturing in the third quarter worth $38,000. Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing during the third quarter valued at about $39,000. Danske Bank A S bought a new stake in shares of Modine Manufacturing in the third quarter worth about $43,000. Toth Financial Advisory Corp purchased a new stake in shares of Modine Manufacturing in the third quarter worth about $57,000. Finally, Parkside Financial Bank & Trust boosted its stake in Modine Manufacturing by 2,025.0% during the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after buying an additional 405 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

About Modine Manufacturing

(Get Free Report)

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.

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