Modine Manufacturing (NYSE:MOD) Stock Price Down 7.2% – What’s Next?

Modine Manufacturing (NYSE:MOD) shares fell 7.2% on Monday . The stock traded as low as $129.29 and last traded at $130.07. 179,664 shares changed hands during trading, a decline of 78% from the average session volume of 832,651 shares. The stock had previously closed at $140.21.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MOD. DA Davidson boosted their price target on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Oppenheimer increased their price objective on Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.67.

Modine Manufacturing Trading Down 7.2 %

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 business has a 50-day simple moving average of $130.48 and a two-hundred day simple moving average of $114.81. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 45.97, a P/E/G ratio of 1.08 and a beta of 2.31.

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

Hedge Funds Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOD. West Oak Capital LLC lifted its position in Modine Manufacturing by 300.0% during the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after purchasing an additional 450 shares during the last quarter. Fifth Third Bancorp bought a new position in Modine Manufacturing during the second quarter valued at approximately $64,000. DekaBank Deutsche Girozentrale purchased a new stake in Modine Manufacturing during the 2nd quarter valued at $68,000. Private Trust Co. NA lifted its holdings in Modine Manufacturing by 650.5% in the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares during the period. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Modine Manufacturing by 9.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock worth $117,000 after buying an additional 104 shares during the last quarter. 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.