Modine Manufacturing (NYSE:MOD) Stock Price Down 4.9% - Time to Sell?

Key Points

• Shares of Modine fell 4.9% mid-day to about $241.23, trading roughly 263,456 shares — about 81% below its average daily volume of 1.36M after a prior close of $253.66.
• Analysts are largely positive (six Buys, two Holds) and the consensus is a Moderate Buy, but the average price target of $234.33 sits below the current share price, indicating mixed sentiment.
• Modine beat quarterly expectations with EPS $1.19 vs. $0.99 est. and revenue $805M (+30.5% YoY), yet the stock carries a rich valuation with a P/E of 129.56.

Shares of Modine Manufacturing Company (NYSE:MOD - Get Free Report) were down 4.9% during mid-day trading on Wednesday . The company traded as low as $240.00 and last traded at $241.2270. Approximately 263,456 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,355,158 shares. The stock had previously closed at $253.66.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MOD shares. Zacks Research cut shares of Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a research note on Monday. Glj Research started coverage on shares of Modine Manufacturing in a research note on Monday, March 30th. They issued a "buy" rating and a $290.00 price objective on the stock. DA Davidson reiterated a "buy" rating and issued a $265.00 target price on shares of Modine Manufacturing in a report on Tuesday, March 31st. Roth Mkm started coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a "buy" rating and a $263.00 target price on the stock. Finally, Oppenheimer increased their target price on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $234.33.

Modine Manufacturing Trading Down 8.1%

The company's fifty day simple moving average is $216.36 and its two-hundred day simple moving average is $171.83. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 129.56, a price-to-earnings-growth ratio of 1.05 and a beta of 1.68.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. Research analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Modine Manufacturing

A number of large investors have recently added to or reduced their stakes in MOD. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing in the fourth quarter valued at about $25,000. Spire Wealth Management acquired a new stake in Modine Manufacturing in the 4th quarter valued at approximately $27,000. First Horizon Corp acquired a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $38,000. Sunbelt Securities Inc. bought a new stake in Modine Manufacturing in the 3rd quarter valued at approximately $39,000. Finally, Danske Bank A S acquired a new position in Modine Manufacturing during the 3rd quarter worth approximately $43,000. 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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