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

Modine Manufacturing Company (NYSE:MOD) gapped up prior to trading on Friday . The stock had previously closed at $190.74, but opened at $205.00. Modine Manufacturing shares last traded at $201.41, with a volume of 471,061 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MOD shares. Glj Research restated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. B. Riley Financial reiterated a “buy” rating and issued a $305.00 target price (down from $340.00) on shares of Modine Manufacturing in a research note on Thursday, July 30th. DA Davidson reissued a “buy” rating and set a $330.00 target price on shares of Modine Manufacturing in a research report on Monday, June 22nd. UBS Group upped their price target on shares of Modine Manufacturing to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Finally, KeyCorp decreased their price target on shares of Modine Manufacturing from $370.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $320.14.

Modine Manufacturing Price Performance

The stock has a fifty day moving average of $233.94 and a 200 day moving average of $236.29. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 73.44, a P/E/G ratio of 0.64 and a beta of 1.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.04 and a quick ratio of 1.22.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company had revenue of $874.10 million for the quarter, compared to the consensus estimate of $878.69 million. During the same quarter in the prior year, the company earned $0.95 EPS. Modine Manufacturing’s quarterly revenue was up 28.0% on a year-over-year basis. On average, analysts expect that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Insider Activity

In related news, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider owned 28,364 shares of the company’s stock, valued at $8,369,081.84. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the transaction, the director owned 42,350 shares of the company’s stock, valued at $12,219,669. This represents a 26.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,302 shares of company stock valued at $15,928,759 in the last ninety days. Insiders own 1.92% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. increased its position in Modine Manufacturing by 19.7% during the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock worth $51,000 after buying an additional 39 shares during the period. World Investment Advisors boosted its holdings in shares of Modine Manufacturing by 4.1% in the first quarter. World Investment Advisors now owns 1,643 shares of the auto parts company’s stock valued at $356,000 after acquiring an additional 65 shares during the period. Xponance LLC boosted its holdings in shares of Modine Manufacturing by 1.7% in the fourth quarter. Xponance LLC now owns 4,424 shares of the auto parts company’s stock valued at $591,000 after acquiring an additional 75 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Modine Manufacturing by 3.4% in the fourth quarter. State of Alaska Department of Revenue now owns 3,156 shares of the auto parts company’s stock valued at $421,000 after acquiring an additional 103 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Modine Manufacturing by 6.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,780 shares of the auto parts company’s stock worth $386,000 after acquiring an additional 103 shares during the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

About Modine Manufacturing

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.