Modine Manufacturing (NYSE:MOD) Reaches New 12-Month High – What’s Next?

Modine Manufacturing Company (NYSE:MOD) reached a new 52-week high during trading on Thursday . The stock traded as high as $280.00 and last traded at $274.8340, with a volume of 1002621 shares trading hands. The stock had previously closed at $271.60.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MOD shares. Oppenheimer raised their price objective on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. DA Davidson reissued a “buy” rating and issued a $265.00 price objective on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen cut Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Glj Research started coverage on Modine Manufacturing in a research note on Monday, March 30th. They set a “buy” rating and a $290.00 target price for the company. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Modine Manufacturing presently has an average rating of “Moderate Buy” and an average target price of $234.33.

Modine Manufacturing Trading Up 1.2%

The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of 152.69, a PEG ratio of 1.11 and a beta of 1.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The business has a 50-day moving average of $225.49 and a 200-day moving average of $181.55.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $763.54 million. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The business’s revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. As a group, research analysts forecast that Modine Manufacturing Company will post 4.82 EPS for the current year.

Institutional Trading of Modine Manufacturing

A number of large investors have recently made changes to their positions in MOD. Capital Research Global Investors acquired a new stake in shares of Modine Manufacturing in the 3rd quarter valued at about $184,610,000. Invesco Ltd. boosted its position in shares of Modine Manufacturing by 120.4% in the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock valued at $176,037,000 after purchasing an additional 720,389 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Modine Manufacturing by 31.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock valued at $311,503,000 after purchasing an additional 560,131 shares during the period. WT Asset Management Ltd acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $69,255,000. Finally, Norges Bank acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $58,309,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

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.