Modine Manufacturing (NYSE:MOD) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Modine Manufacturing reached a new 52-week high of $159.89 after Oppenheimer raised its price target from $145.00 to $180.00, maintaining an outperform rating.
• Recent ratings changes from analysts show a mixed outlook, with some firms upgrading their targets while others have downgraded their ratings, resulting in a consensus of "Moderate Buy" with a price target of $180.00.
• Insider transactions highlight significant stock sales, with insiders having sold a total of 239,938 shares valued at $31 million over the past ninety days, reflecting a decrease in insider ownership.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) hit a new 52-week high during trading on Wednesday after Oppenheimer raised their price target on the stock from $145.00 to $180.00. Oppenheimer currently has an outperform rating on the stock. Modine Manufacturing traded as high as $159.89 and last traded at $158.30, with a volume of 80916 shares changing hands. The stock had previously closed at $153.65.

MOD has been the subject of several other reports. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. KeyCorp lifted their price target on Modine Manufacturing from $160.00 to $175.00 and gave the stock an "overweight" rating in a research report on Tuesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Modine Manufacturing in a research report on Wednesday, October 8th. Zacks Research downgraded Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $185.00 price target on shares of Modine Manufacturing in a research report on Monday, September 29th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $180.00.

Insider Transactions at Modine Manufacturing

In other Modine Manufacturing news, Director Marsha C. Williams sold 25,761 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $134.77, for a total value of $3,471,809.97. Following the transaction, the director owned 120,689 shares of the company's stock, valued at approximately $16,265,256.53. The trade was a 17.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael B. Lucareli sold 40,422 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $140.47, for a total value of $5,678,078.34. Following the completion of the transaction, the executive vice president directly owned 41,920 shares in the company, valued at approximately $5,888,502.40. This represents a 49.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 239,938 shares of company stock valued at $31,001,392. 2.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Modine Manufacturing

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Modine Manufacturing by 63.1% during the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after acquiring an additional 142 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of 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 acquiring an additional 405 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Modine Manufacturing by 442.4% during the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock valued at $49,000 after acquiring an additional 522 shares during the period. Maseco LLP acquired a new position in Modine Manufacturing in the second quarter valued at about $51,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Modine Manufacturing in the second quarter valued at about $57,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Modine Manufacturing Stock Up 3.2%

The firm has a 50 day simple moving average of $143.24 and a two-hundred day simple moving average of $110.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 45.37, a price-to-earnings-growth ratio of 0.95 and a beta of 2.06.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.13. Modine Manufacturing had a return on equity of 23.90% and a net margin of 7.21%.The firm had revenue of $682.80 million for the quarter, compared to analyst estimates of $653.80 million. During the same quarter in the prior year, the firm posted $1.04 earnings per share. The company's quarterly revenue was up 3.2% on a year-over-year basis. Modine Manufacturing has set its FY 2026 guidance at EPS. As a group, sell-side analysts expect that Modine Manufacturing Company will post 3.88 EPS for the current year.

Modine Manufacturing Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.