Modine Manufacturing (NYSE:MOD) Shares Down 5.4% – Should You Sell?

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

Analysts Set New Price Targets

A number of brokerages recently commented on MOD. B. Riley increased 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. Oppenheimer upped their price objective 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. Finally, DA Davidson boosted their price objective 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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 quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The stock has a market cap of $7.00 billion, a P/E ratio of 45.51, a P/E/G ratio of 1.06 and a beta of 2.25. The company has a 50-day simple moving average of $129.10 and a two-hundred day simple moving average of $112.87.

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

Institutional Trading of Modine Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Modine Manufacturing in the first quarter worth about $37,000. Opal Wealth Advisors LLC acquired a new stake in Modine Manufacturing during the second quarter worth about $51,000. West Oak Capital LLC increased its stake in shares of Modine Manufacturing by 300.0% in the second quarter. West Oak Capital LLC now owns 600 shares of the auto parts company’s stock valued at $60,000 after buying an additional 450 shares during the period. Fifth Third Bancorp bought a new position in Modine Manufacturing in the 2nd quarter valued at about $64,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Modine Manufacturing during the 2nd quarter valued at $68,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

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.