Modine Manufacturing (NYSE:MOD) Shares Down 5.4% – Time to Sell?

Modine Manufacturing (NYSE:MOD)’s share price traded down 5.4% during trading on Wednesday . The company traded as low as $131.05 and last traded at $131.25. 181,385 shares were traded during mid-day trading, a decline of 79% from the average session volume of 844,793 shares. The stock had previously closed at $138.80.

Analyst Ratings Changes

MOD has been the topic of a number of analyst reports. Oppenheimer boosted their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. B. Riley raised their price target on Modine Manufacturing from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, DA Davidson upped their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing Stock Down 3.9 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The firm has a market cap of $7.00 billion, a PE ratio of 45.51, a PEG ratio of 1.06 and a beta of 2.25. The stock has a 50 day simple moving average of $129.10 and a 200-day simple moving average of $112.87.

Modine Manufacturing (NYSE:MOD) last announced its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. Modine Manufacturing’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. Sell-side analysts predict that Modine Manufacturing will post 3.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Modine Manufacturing

Large investors have recently bought and sold shares of the business. FMR LLC grew its position in Modine Manufacturing by 14.0% during the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock worth $586,657,000 after purchasing an additional 543,419 shares during the period. State Street Corp increased its holdings in shares of Modine Manufacturing by 1.5% during the 3rd quarter. State Street Corp now owns 1,219,916 shares of the auto parts company’s stock worth $161,993,000 after buying an additional 18,108 shares during the last quarter. Geode Capital Management LLC raised its position in Modine Manufacturing by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company’s stock valued at $155,522,000 after purchasing an additional 9,648 shares during the period. Principal Financial Group Inc. boosted its holdings in Modine Manufacturing by 2.4% in the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock valued at $153,072,000 after purchasing an additional 26,527 shares during the period. Finally, Driehaus Capital Management LLC lifted its holdings in Modine Manufacturing by 32.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,101,932 shares of the auto parts company’s stock worth $110,403,000 after buying an additional 272,174 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.