Modine Manufacturing (NYSE:MOD) Hits New 1-Year High – Should You Buy?

Modine Manufacturing Company (NYSE:MOD) hit a new 52-week high during trading on Thursday . The company traded as high as $182.85 and last traded at $173.0160, with a volume of 1933344 shares traded. The stock had previously closed at $146.90.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. KeyCorp increased their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. DA Davidson reaffirmed a “buy” rating and issued a $200.00 target price on shares of Modine Manufacturing in a report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. UBS Group started coverage on Modine Manufacturing in a research report on Thursday, November 20th. They set a “buy” rating and a $173.00 price objective for the company. Finally, Oppenheimer raised their price objective on Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Modine Manufacturing Stock Performance

The company has a fifty day moving average price of $142.49 and a two-hundred day moving average price of $140.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 1.16. The company has a market capitalization of $9.19 billion, a P/E ratio of 50.22, a PEG ratio of 0.93 and a beta of 1.70.

Modine Manufacturing (NYSE:MOD) last posted its earnings results on Tuesday, October 28th. The auto parts company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. The firm had revenue of $738.90 million for the quarter, compared to analyst estimates of $699.91 million. Modine Manufacturing had a net margin of 6.93% and a return on equity of 23.19%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. Equities analysts forecast that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $150.00, for a total value of $165,000.00. Following the completion of the sale, the director directly owned 80,956 shares in the company, valued at $12,143,400. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Neil David Brinker sold 31,871 shares of Modine Manufacturing stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the transaction, the chief executive officer directly owned 238,312 shares in the company, valued at $38,263,374.72. The trade was a 11.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.48% of the company’s stock.

Institutional Trading of Modine Manufacturing

A number of institutional investors have recently bought and sold shares of MOD. Spire Wealth Management acquired a new position in shares of Modine Manufacturing in the 4th quarter valued at about $27,000. First Horizon Corp bought a new stake in Modine Manufacturing in the third quarter worth approximately $38,000. Sunbelt Securities Inc. bought a new stake in Modine Manufacturing in the third quarter worth approximately $39,000. Parkside Financial Bank & Trust lifted its stake in Modine Manufacturing by 2,025.0% in the second quarter. Parkside Financial Bank & Trust now owns 425 shares of the auto parts company’s stock valued at $42,000 after buying an additional 405 shares during the period. Finally, Danske Bank A S bought a new position in shares of Modine Manufacturing during the 3rd quarter worth approximately $43,000. Institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.