Modine Manufacturing (NYSE:MOD) Reaches New 52-Week High - Should You Buy?

Key Points

• Modine shares hit a new 52-week high, trading as high as $265 (last around $262.60) on ~62,480 shares and were up roughly 3.5% on the session.
• Analyst coverage is mixed but the consensus is a “Moderate Buy” with a consensus target of $234.33—which is notably below the current share price—while individual price targets range up to $290 and some firms have recently downgraded to Hold.
• In the most recent quarter Modine beat expectations, reporting $1.19 EPS vs. $0.99 expected and $805M in revenue (up 30.5% year‑over‑year), supporting the recent rally despite a high P/E of 146.04.

Modine Manufacturing Company (NYSE:MOD - Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $265.00 and last traded at $262.5950, with a volume of 62480 shares. The stock had previously closed at $254.63.

Wall Street Analyst Weigh In

MOD has been the subject of several recent analyst reports. DA Davidson reissued a "buy" rating and issued a $265.00 price objective on shares of Modine Manufacturing in a report on Tuesday, March 31st. Roth Mkm initiated coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a "buy" rating and a $263.00 price objective for the company. Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, February 22nd. Zacks Research downgraded Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, Glj Research initiated coverage on Modine Manufacturing in a report on Monday, March 30th. They issued a "buy" rating and a $290.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.33.

Modine Manufacturing Trading Up 3.5%

The business has a 50 day moving average of $223.54 and a two-hundred day moving average of $179.58. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The firm has a market cap of $13.89 billion, a P/E ratio of 146.04, a PEG ratio of 0.95 and a beta of 1.68.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $763.54 million. During the same quarter in the prior year, the business earned $0.92 EPS. The firm's revenue for the quarter was up 30.5% on a year-over-year basis. Analysts predict that Modine Manufacturing Company will post 4.82 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. World Investment Advisors raised its position in shares of Modine Manufacturing by 4.1% in the first quarter. World Investment Advisors now owns 1,643 shares of the auto parts company's stock valued at $356,000 after buying an additional 65 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Modine Manufacturing by 17.6% in the third quarter. Parkside Financial Bank & Trust now owns 500 shares of the auto parts company's stock valued at $71,000 after purchasing an additional 75 shares in the last quarter. Xponance LLC raised its stake in Modine Manufacturing by 1.7% in the fourth quarter. Xponance LLC now owns 4,424 shares of the auto parts company's stock valued at $591,000 after purchasing an additional 75 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Modine Manufacturing by 3.4% in the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company's stock valued at $421,000 after purchasing an additional 103 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Modine Manufacturing by 18.3% in the fourth quarter. NewEdge Advisors LLC now owns 680 shares of the auto parts company's stock valued at $91,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 95.23% of the company's stock.

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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