Modine Manufacturing (NYSE:MOD) Shares Gap Down – Time to Sell?

Modine Manufacturing Company (NYSE:MOD)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $140.44, but opened at $129.97. Modine Manufacturing shares last traded at $124.3420, with a volume of 574,770 shares.

Wall Street Analyst Weigh In

MOD has been the subject of several research reports. DA Davidson reiterated a “buy” rating and set a $200.00 price objective on shares of Modine Manufacturing in a research report on Wednesday, November 19th. KeyCorp raised their price target on shares of Modine Manufacturing from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Oppenheimer boosted their price objective on shares of Modine Manufacturing from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Finally, UBS Group began coverage on shares of Modine Manufacturing in a research note on Thursday, November 20th. They set a “buy” rating and a $173.00 price target for the company. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.00.

Modine Manufacturing Stock Performance

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 cap of $6.60 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.70. The business has a fifty day simple moving average of $146.59 and a two-hundred day simple moving average of $136.15.

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

Insider Activity at Modine Manufacturing

In related news, CEO Neil David Brinker sold 31,871 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $38,263,374.72. This represents a 11.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.48% of the company’s stock.

Institutional Investors Weigh In On Modine Manufacturing

Large investors have recently bought and sold shares of the company. Capital Research Global Investors acquired a new stake in shares of Modine Manufacturing in the third quarter worth $184,610,000. Champlain Investment Partners LLC grew its position in Modine Manufacturing by 244.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock worth $73,249,000 after purchasing an additional 527,626 shares during the period. Congress Asset Management Co. lifted its holdings in shares of Modine Manufacturing by 954.8% in the 3rd quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock valued at $74,987,000 after buying an additional 477,473 shares during the period. Norges Bank purchased a new stake in shares of Modine Manufacturing in the second quarter worth about $41,081,000. Finally, Hood River Capital Management LLC grew its holdings in Modine Manufacturing by 222.8% during the second quarter. Hood River Capital Management LLC now owns 564,466 shares of the auto parts company’s stock worth $55,600,000 after acquiring an additional 389,574 shares during the period. Hedge funds and other institutional investors own 95.23% of the company’s stock.

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.