Modine Manufacturing (NYSE:MOD) Trading Down 3.8% – Here’s Why

Shares of Modine Manufacturing (NYSE:MOD) fell 3.8% during trading on Friday . The company traded as low as $135.52 and last traded at $134.62. 225,739 shares were traded during trading, a decline of 69% from the average session volume of 730,980 shares. The stock had previously closed at $140.00.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $146.67.

Modine Manufacturing Stock Down 5.3 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.09 and a current ratio of 1.77. The firm’s 50-day simple moving average is $128.58 and its 200 day simple moving average is $120.94. The stock has a market capitalization of $6.96 billion, a P/E ratio of 43.27, a PEG ratio of 1.10 and a beta of 2.34.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 29th. The auto parts company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $646.86 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts expect that Modine Manufacturing will post 3.83 EPS for the current year.

Hedge Funds Weigh In On Modine Manufacturing

Hedge funds have recently bought and sold shares of the company. Private Trust Co. NA boosted its stake in Modine Manufacturing by 650.5% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after purchasing an additional 670 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Modine Manufacturing by 90.9% in the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after purchasing an additional 491 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after purchasing an additional 82 shares during the last quarter. KBC Group NV boosted its position in Modine Manufacturing by 47.8% in the third quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock worth $193,000 after purchasing an additional 471 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Modine Manufacturing in the 3rd quarter worth $196,000. Institutional investors own 95.23% of the company’s stock.

About Modine Manufacturing

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.