Modine Manufacturing (NYSE:MOD) Reaches New 12-Month High - What's Next?

Key Points

• Modine Manufacturing hit a new 52-week high, trading as high as $258.87 and last at $256.06 on a volume of 1,726,148 shares, above the prior close of $241.46.
• Wall Street has a consensus Buy rating (one Strong Buy, six Buy, one Hold) with a consensus price target of $234.33, while individual analyst targets range as high as $290.
• The company recently beat earnings and revenue estimates, reporting $1.19 EPS vs. $0.99 expected and $805M in revenue (up 30.5% YoY); it has a $13.5B market cap and a P/E of 142.26.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $258.87 and last traded at $256.0640, with a volume of 1726148 shares traded. The stock had previously closed at $241.46.

Wall Street Analyst Weigh In

Several research firms have issued reports on MOD. Weiss Ratings restated a "hold (c)" rating on shares of Modine Manufacturing in a research report on Monday, December 29th. DA Davidson restated a "buy" rating and issued a $265.00 price target on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Glj Research started coverage on shares of Modine Manufacturing in a research report on Monday, March 30th. They set a "buy" rating and a $290.00 target price on the stock. Roth Mkm started coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a "buy" rating and a $263.00 target price on the stock. Finally, Oppenheimer lifted their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Modine Manufacturing has a consensus rating of "Buy" and a consensus price target of $234.33.

Modine Manufacturing Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The firm's 50-day moving average price is $215.26 and its two-hundred day moving average price is $171.02. The firm has a market capitalization of $13.50 billion, a price-to-earnings ratio of 142.26, a price-to-earnings-growth ratio of 0.98 and a beta of 1.68.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same period in the previous year, the business earned $0.92 EPS. The firm's revenue was up 30.5% on a year-over-year basis. Sell-side analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Insider Buying and Selling

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the business's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the transaction, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Modine Manufacturing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in Modine Manufacturing in the fourth quarter valued at about $25,000. Spire Wealth Management acquired a new position in Modine Manufacturing in the fourth quarter valued at about $27,000. First Horizon Corp acquired a new position in Modine Manufacturing in the third quarter valued at about $38,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing in the third quarter valued at about $39,000. Finally, Danske Bank A S acquired a new position in Modine Manufacturing in the third quarter valued at about $43,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About Modine Manufacturing

Modine Manufacturing Company NYSE: MOD is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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