Modine Manufacturing (NYSE:MOD) Shares Gap Up – Time to Buy?

Modine Manufacturing (NYSE:MOD) shares gapped up prior to trading on Tuesday . The stock had previously closed at $97.49, but opened at $101.36. Modine Manufacturing shares last traded at $94.65, with a volume of 227,487 shares.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Stock Performance

The company has a market cap of $5.16 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.10 and a beta of 2.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09. The firm has a fifty day simple moving average of $127.36 and a 200 day simple moving average of $121.17.

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

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA boosted its stake 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 in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Modine Manufacturing by 90.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock valued at $137,000 after acquiring an additional 491 shares in the last quarter. 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 acquiring an additional 82 shares during the period. KBC Group NV raised 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Modine Manufacturing during the third quarter worth about $196,000. Institutional investors own 95.23% of the company’s stock.

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.