Modine Manufacturing (NYSE:MOD) Sees Large Volume Increase – What’s Next?

Modine Manufacturing (NYSE:MOD) shares saw unusually-strong trading volume on Monday . Approximately 1,210,138 shares traded hands during trading, an increase of 52% from the previous session’s volume of 793,719 shares.The stock last traded at $94.86 and had previously closed at $132.24.

Analysts Set New Price Targets

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

Modine Manufacturing Stock Performance

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 company has a market cap of $5.16 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.10 and a beta of 2.34. The firm’s 50-day moving average price is $127.36 and its 200 day moving average price is $121.17.

Modine Manufacturing (NYSE:MOD) last released 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 firm had revenue of $658.00 million during the quarter, compared to analyst estimates of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. On average, sell-side analysts anticipate that Modine Manufacturing will post 3.83 EPS for the current year.

Institutional Investors Weigh In On Modine Manufacturing

A number of institutional investors have recently made changes to their positions in MOD. Private Trust Co. NA boosted its holdings in Modine Manufacturing by 650.5% during the third quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after buying an additional 670 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Modine Manufacturing by 90.9% during the third quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after purchasing an additional 491 shares during the period. Nisa Investment Advisors LLC increased its stake in Modine Manufacturing by 6.5% in 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 in the last quarter. KBC Group NV raised its holdings 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 period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Modine Manufacturing during the third quarter worth $196,000. 95.23% of the stock is owned by institutional investors and hedge funds.

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.