Modine Manufacturing (NYSE:MOD) Shares Down 8.3% - What's Next?

Modine Manufacturing Company (NYSE:MOD - Get Free Report) traded down 8.3% on Thursday . The company traded as low as $92.10 and last traded at $90.51. 191,051 shares traded hands during trading, a decline of 84% from the average session volume of 1,174,383 shares. The stock had previously closed at $98.68.

Analysts Set New Price Targets

MOD has been the topic of a number of research analyst reports. DA Davidson restated a "buy" rating and set a $155.00 price objective on shares of Modine Manufacturing in a report on Monday, March 17th. Oppenheimer raised their price objective on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. KeyCorp initiated coverage on shares of Modine Manufacturing in a report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Modine Manufacturing from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Modine Manufacturing currently has an average rating of "Buy" and an average target price of $135.50.

Modine Manufacturing Trading Down 6.0%

The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.32. The business's fifty day moving average is $96.29 and its 200 day moving average is $95.43. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 0.64 and a beta of 2.04.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The auto parts company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. Modine Manufacturing had a net margin of 7.12% and a return on equity of 25.31%. The firm had revenue of $647.20 million for the quarter, compared to analyst estimates of $633.13 million. During the same period in the previous year, the business earned $0.77 EPS. The company's revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MOD. Vanguard Group Inc. increased its stake in shares of Modine Manufacturing by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,187,554 shares of the auto parts company's stock worth $398,145,000 after purchasing an additional 128,587 shares during the period. Wellington Management Group LLP boosted its holdings in Modine Manufacturing by 293.7% in the 1st quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock valued at $189,479,000 after purchasing an additional 1,841,640 shares during the period. Invesco Ltd. boosted its holdings in Modine Manufacturing by 1.0% in the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company's stock valued at $233,313,000 after purchasing an additional 20,085 shares during the period. Driehaus Capital Management LLC boosted its holdings in Modine Manufacturing by 2.8% in the 4th quarter. Driehaus Capital Management LLC now owns 1,439,980 shares of the auto parts company's stock valued at $166,937,000 after purchasing an additional 39,193 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 108.0% in the 4th quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company's stock valued at $165,596,000 after purchasing an additional 741,667 shares during the period. 95.23% of the stock is currently owned by institutional investors and hedge funds.

About Modine Manufacturing

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.