Modine Manufacturing (NYSE:MOD) Hits New 12-Month High After Analyst Upgrade

Modine Manufacturing (NYSE:MODGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday after B. Riley raised their price target on the stock from $80.00 to $88.00. B. Riley currently has a buy rating on the stock. Modine Manufacturing traded as high as $70.59 and last traded at $68.68, with a volume of 120899 shares changing hands. The stock had previously closed at $69.09.

MOD has been the topic of a number of other research reports. DA Davidson boosted their price target on Modine Manufacturing from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 26th. StockNews.com downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Wednesday.

Check Out Our Latest Stock Report on Modine Manufacturing

Insiders Place Their Bets

In other news, CFO Michael B. Lucareli sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $50.29, for a total transaction of $3,017,400.00. Following the completion of the sale, the chief financial officer now owns 214,587 shares in the company, valued at $10,791,580.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Michael B. Lucareli sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $50.29, for a total transaction of $3,017,400.00. Following the completion of the sale, the chief financial officer now owns 214,587 shares in the company, valued at $10,791,580.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christopher William Patterson sold 6,400 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $53.04, for a total value of $339,456.00. Following the sale, the director now owns 111,742 shares of the company’s stock, valued at approximately $5,926,795.68. The disclosure for this sale can be found here. Insiders have sold a total of 86,400 shares of company stock valued at $4,456,856 over the last 90 days. 2.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Modine Manufacturing

Several institutional investors have recently made changes to their positions in MOD. FNY Investment Advisers LLC bought a new stake in shares of Modine Manufacturing in the third quarter valued at approximately $25,000. PNC Financial Services Group Inc. boosted its stake in shares of Modine Manufacturing by 966.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,472 shares of the auto parts company’s stock valued at $29,000 after buying an additional 1,334 shares during the period. Point72 Middle East FZE bought a new stake in shares of Modine Manufacturing in the fourth quarter valued at approximately $31,000. Quantbot Technologies LP boosted its stake in shares of Modine Manufacturing by 123.5% in the first quarter. Quantbot Technologies LP now owns 3,800 shares of the auto parts company’s stock valued at $34,000 after buying an additional 2,100 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Modine Manufacturing by 161.3% during the first quarter. Tower Research Capital LLC TRC now owns 1,680 shares of the auto parts company’s stock valued at $38,000 after purchasing an additional 1,037 shares in the last quarter. 91.35% of the stock is currently owned by institutional investors.

Modine Manufacturing Trading Up 3.2 %

The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 0.88 and a beta of 2.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.82 and a quick ratio of 1.17. The firm’s 50-day simple moving average is $59.23 and its 200 day simple moving average is $49.34.

Modine Manufacturing (NYSE:MODGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.57 by $0.17. Modine Manufacturing had a net margin of 9.31% and a return on equity of 26.23%. The business had revenue of $561.40 million during the quarter, compared to the consensus estimate of $594.84 million. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Equities analysts expect that Modine Manufacturing will post 3.04 earnings per share for the current year.

About Modine Manufacturing

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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.

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