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

Key Points

• Shares of Modine Manufacturing hit a new 52-week high, trading as high as $280 and last at $274.83 on a volume of 1,002,621 shares.
• Analysts have a Moderate Buy consensus (six Buy, two Hold) but the average target of $234.33 is well below the current price, reflecting mixed views and recent downgrades and target adjustments.
• Modine beat expectations this quarter with $1.19 EPS vs. $0.99 expected and $805M in revenue (up 30.5% YoY), while valuation looks rich with a P/E of 152.69 and a market cap of about $14.49 billion.

Shares of Modine Manufacturing Company (NYSE:MOD - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $280.00 and last traded at $274.8340, with a volume of 1002621 shares. The stock had previously closed at $271.60.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MOD. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Sunday, February 22nd. Roth Mkm began coverage on Modine Manufacturing in a research report on Wednesday, February 18th. They set a "buy" rating and a $263.00 price target on the stock. DA Davidson reiterated a "buy" rating and set a $265.00 price target on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Oppenheimer raised their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. Finally, Zacks Research downgraded Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $234.33.

Modine Manufacturing Stock Performance

The firm has a market cap of $14.49 billion, a PE ratio of 152.69, a P/E/G ratio of 1.11 and a beta of 1.66. The firm has a 50-day moving average price of $225.49 and a two-hundred day moving average price of $181.55. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released 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 return on equity of 22.99% and a net margin of 3.40%.The business had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same quarter last year, the business posted $0.92 earnings per share. The business's quarterly revenue was up 30.5% compared to the same quarter last year. Research analysts forecast that Modine Manufacturing Company will post 4.82 EPS for the current fiscal year.

Institutional Trading of Modine Manufacturing

Several institutional investors and hedge funds have recently bought and sold shares of MOD. V Square Quantitative Management LLC acquired a new stake in shares of Modine Manufacturing in the first quarter valued at $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at $25,000. Spire Wealth Management acquired a new stake in shares of Modine Manufacturing in the fourth quarter valued at $27,000. First Horizon Corp purchased a new position in shares of Modine Manufacturing in the third quarter valued at approximately $38,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing in the third quarter valued at approximately $39,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

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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