Modine Manufacturing (NYSE:MOD) Stock Price Down 6.6% – Here’s Why

Modine Manufacturing Company (NYSE:MOD) shares fell 6.6% during trading on Wednesday . The stock traded as low as $286.00 and last traded at $276.3420. 636,807 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 1,276,523 shares. The stock had previously closed at $295.88.

Trending Headlines about Modine Manufacturing

Here are the key news stories impacting Modine Manufacturing this week:

• Positive Sentiment: KeyCorp raised its price target on Modine from $250 to $370 and maintained an overweight rating, signaling strong upside expectations after the recent surge in demand for the company’s cooling systems. Benzinga report
• Positive Sentiment: Modine reported fiscal Q4 earnings that beat estimates, with EPS of $1.71 and revenue of $954.4 million, helped by 47.5% year-over-year revenue growth and strong data center cooling demand. Zacks article
• Positive Sentiment: Several articles highlighted Modine’s growing role in AI data center cooling, suggesting the company may be re-rated higher as investors view it less like a cyclical industrial supplier and more like an AI infrastructure beneficiary. MarketWatch article

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MOD shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Modine Manufacturing in a research report on Wednesday, May 6th. KeyCorp raised their price target on shares of Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday. B. Riley Financial raised their price target on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday. DA Davidson reaffirmed a “buy” rating and issued a $265.00 price target on shares of Modine Manufacturing in a research report on Wednesday. Finally, Oppenheimer raised their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $286.00.

Modine Manufacturing Stock Performance

The company’s 50-day simple moving average is $241.71 and its 200 day simple moving average is $192.81. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The stock has a market cap of $14.55 billion, a P/E ratio of 152.99, a PEG ratio of 1.06 and a beta of 1.66.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The company had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. Modine Manufacturing’s revenue was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. As a group, sell-side analysts expect that Modine Manufacturing Company will post 4.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Modine Manufacturing

Hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of Modine Manufacturing in the 1st quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Modine Manufacturing in the 4th quarter worth approximately $25,000. Spire Wealth Management bought a new stake in shares of Modine Manufacturing in the 4th quarter worth approximately $27,000. Sunbelt Securities Inc. bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $39,000. Finally, Danske Bank A S bought a new stake in shares of Modine Manufacturing in the 3rd quarter worth approximately $43,000. 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.