Modine Manufacturing (NYSE:MOD) Stock Price Down 7.4%

Modine Manufacturing (NYSE:MODGet Free Report) fell 7.4% during mid-day trading on Tuesday . The company traded as low as $92.11 and last traded at $92.45. 126,263 shares changed hands during trading, a decline of 87% from the average session volume of 956,383 shares. The stock had previously closed at $99.84.

Analysts Set New Price Targets

Several research firms have weighed in on MOD. DA Davidson increased their price target on shares of Modine Manufacturing from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 24th. B. Riley reaffirmed a “buy” rating and issued a $98.00 price objective (up from $88.00) on shares of Modine Manufacturing in a report on Tuesday, February 27th. Finally, Oppenheimer lifted their target price on Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.33.

Read Our Latest Analysis on MOD

Modine Manufacturing Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.98 and a current ratio of 1.64. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 0.75 and a beta of 2.26. The firm has a fifty day moving average price of $96.49 and a 200-day moving average price of $78.92.

Modine Manufacturing (NYSE:MODGet Free Report) last announced its quarterly earnings data on Tuesday, May 21st. The auto parts company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The firm had revenue of $603.50 million for the quarter, compared to analyst estimates of $605.44 million. Modine Manufacturing had a return on equity of 24.69% and a net margin of 6.71%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. As a group, equities analysts anticipate that Modine Manufacturing will post 3.67 EPS for the current year.

Insider Activity

In other news, VP Brian Jon Agen sold 16,799 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $95.64, for a total value of $1,606,656.36. Following the completion of the transaction, the vice president now owns 102,409 shares of the company’s stock, valued at $9,794,396.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.86% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds have recently added to or reduced their stakes in MOD. Principal Securities Inc. bought a new stake in shares of Modine Manufacturing during the 4th quarter valued at about $29,000. Strid Group LLC bought a new position in shares of Modine Manufacturing during the 1st quarter worth approximately $33,000. Acadian Asset Management LLC acquired a new stake in shares of Modine Manufacturing during the 1st quarter worth approximately $37,000. Nisa Investment Advisors LLC grew its holdings in Modine Manufacturing by 51.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,172 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 400 shares during the period. Finally, Spire Wealth Management bought a new position in shares of Modine Manufacturing during the 1st quarter worth about $79,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

(Get Free Report)

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.

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