Modine Manufacturing (NYSE:MOD) Trading 6.5% Higher – Still a Buy?

Modine Manufacturing Company (NYSE:MOD)’s stock price shot up 6.5% during trading on Tuesday . The company traded as high as $201.21 and last traded at $203.52. Approximately 81,007 shares were traded during trading, a decline of 94% from the average daily volume of 1,395,396 shares. The stock had previously closed at $191.01.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. B. Riley Financial reissued a “buy” rating and issued a $305.00 price objective (down from $340.00) on shares of Modine Manufacturing in a report on Thursday, July 30th. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. DA Davidson reiterated a “buy” rating and issued a $330.00 price target on shares of Modine Manufacturing in a research report on Monday, June 22nd. KeyCorp cut their price target on Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $320.14.

Modine Manufacturing Price Performance

The company has a quick ratio of 1.22, a current ratio of 2.04 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 75.41, a P/E/G ratio of 0.65 and a beta of 1.71. The business’s 50 day simple moving average is $242.83 and its 200-day simple moving average is $234.42.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, July 28th. The auto parts company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.27 by $0.26. The company had revenue of $874.10 million during the quarter, compared to analysts’ expectations of $878.69 million. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 EPS. On average, research analysts forecast that Modine Manufacturing Company will post 7.65 earnings per share for the current year.

Insider Activity

In related news, insider Eric S. Mcginnis sold 1,020 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This represents a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian Jon Agen sold 38,282 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the completion of the sale, the vice president directly owned 66,343 shares in the company, valued at $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 54,302 shares of company stock worth $15,928,759. Insiders own 1.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MOD. V Square Quantitative Management LLC bought a new stake in shares of Modine Manufacturing during the 1st quarter valued at approximately $25,000. Kemnay Advisory Services Inc. acquired a new position in Modine Manufacturing during the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. bought a new position in Modine Manufacturing in the 3rd quarter valued at approximately $39,000. Rakuten Securities Inc. bought a new position in Modine Manufacturing in the 2nd quarter valued at approximately $40,000. Finally, Danske Bank A S acquired a new stake in Modine Manufacturing in the third quarter valued at approximately $43,000. Institutional investors 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.