Modine Manufacturing (NYSE:MOD) Stock Price Down 6.1% – What’s Next?

Modine Manufacturing Company (NYSE:MOD)’s stock price fell 6.1% during trading on Wednesday . The stock traded as low as $264.41 and last traded at $261.1250. 244,975 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,288,316 shares. The stock had previously closed at $278.18.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MOD. UBS Group boosted their target price on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. DA Davidson boosted their target price on shares of Modine Manufacturing from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. KeyCorp boosted their target price on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Trading Up 5.6%

The company’s 50-day moving average is $259.22 and its 200-day moving average is $204.66. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 121.65, a P/E/G ratio of 0.83 and a beta of 1.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. The business had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. On average, research analysts predict that Modine Manufacturing Company will post 7.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MOD. V Square Quantitative Management LLC acquired a new position in Modine Manufacturing during the 1st quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in Modine Manufacturing during the 4th quarter worth about $25,000. Spire Wealth Management acquired a new position in Modine Manufacturing during the 4th quarter worth about $27,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing during the 3rd quarter worth about $39,000. Finally, Danske Bank A S acquired a new position in Modine Manufacturing during the 3rd quarter valued at about $43,000. 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.