Modine Manufacturing (NYSE:MOD) Reaches New 12-Month High at $110.00

Modine Manufacturing (NYSE:MOD)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $110.00 and last traded at $109.47, with a volume of 28923 shares. The stock had previously closed at $107.97.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Modine Manufacturing from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. B. Riley reaffirmed a “buy” rating and set a $125.00 target price on shares of Modine Manufacturing in a report on Thursday, June 27th. Finally, DA Davidson upped their target price on shares of Modine Manufacturing from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 24th.

Modine Manufacturing Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.64 and a quick ratio of 0.98. The stock’s fifty day moving average is $98.51 and its 200-day moving average is $85.10. The stock has a market cap of $5.68 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 0.86 and a beta of 2.27.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, May 21st. The auto parts company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The company had revenue of $603.50 million during the quarter, compared to analyst estimates of $605.44 million. Modine Manufacturing had a net margin of 6.71% and a return on equity of 24.69%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS. As a group, equities analysts anticipate that Modine Manufacturing will post 3.7 EPS for the current year.

Institutional Trading of Modine Manufacturing

Hedge funds have recently made changes to their positions in the business. Strid Group LLC acquired a new stake in shares of Modine Manufacturing during the first quarter worth about $33,000. Acadian Asset Management LLC acquired a new stake in Modine Manufacturing in the first quarter valued at approximately $37,000. Principal Securities Inc. acquired a new stake in Modine Manufacturing in the fourth quarter valued at approximately $29,000. Spire Wealth Management acquired a new stake in Modine Manufacturing in the first quarter valued at approximately $79,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Modine Manufacturing in the first quarter valued at approximately $101,000. Institutional investors and hedge funds own 95.23% of the company’s stock.

About Modine Manufacturing

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.