Modine Manufacturing (NYSE:MOD) Reaches New 1-Year High – Here’s What Happened

Modine Manufacturing Company (NYSE:MOD) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $289.82 and last traded at $289.5450, with a volume of 412898 shares trading hands. The stock had previously closed at $279.20.

Analyst Ratings Changes

MOD has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Modine Manufacturing in a research note on Wednesday, May 6th. Zacks Research cut shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Glj Research initiated coverage on shares of Modine Manufacturing in a report on Monday, March 30th. They issued a “buy” rating and a $290.00 price objective for the company. DA Davidson reissued a “buy” rating and set a $265.00 target price on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Finally, Wall Street Zen lowered Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.33.

Modine Manufacturing Price Performance

The firm has a market cap of $15.43 billion, a P/E ratio of 162.46, a price-to-earnings-growth ratio of 1.12 and a beta of 1.66. The stock’s 50-day moving average is $229.97 and its 200-day moving average is $185.89. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MOD. V Square Quantitative Management LLC bought a new stake in shares of Modine Manufacturing in the first quarter valued at about $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at $25,000. Spire Wealth Management bought a new stake in shares of Modine Manufacturing in the 4th quarter worth about $27,000. First Horizon Corp acquired a new stake in shares of Modine Manufacturing during the 3rd quarter worth about $38,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Modine Manufacturing during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

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.