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

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Oppenheimer boosted their price objective on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Wall Street Zen raised Modine Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. DA Davidson reaffirmed a "buy" rating and issued a $155.00 target price on shares of Modine Manufacturing in a research report on Monday, March 17th. Finally, KeyCorp started coverage on Modine Manufacturing in a research report on Thursday, June 12th. They set an "overweight" rating and a $125.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Modine Manufacturing currently has an average rating of "Buy" and a consensus target price of $135.50.

Modine Manufacturing Trading Down 0.6%

The stock has a fifty day moving average of $96.29 and a 200-day moving average of $95.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.78. The company has a market cap of $4.83 billion, a PE ratio of 26.93, a PEG ratio of 0.64 and a beta of 2.04.

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

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds have recently made changes to their positions in MOD. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company's stock valued at $27,000 after purchasing an additional 193 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 142 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Modine Manufacturing by 245.9% in the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after purchasing an additional 300 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Modine Manufacturing in the first quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. grew its position in Modine Manufacturing by 442.4% in the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock worth $49,000 after acquiring an additional 522 shares during the period. Institutional investors and hedge funds own 95.23% of the company's stock.

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.