Modine Manufacturing (NYSE:MOD) Shares Gap Up - Still a Buy?

Modine Manufacturing (NYSE:MOD - Get Free Report)'s stock price 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 trading hands.

Analysts Set New Price Targets

Separately, Oppenheimer lifted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st.

Modine Manufacturing Stock Performance

The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.09 billion, a PE ratio of 31.91, a PEG ratio of 0.78 and a beta of 2.31. The business's 50 day moving average is $125.05 and its 200 day moving average is $120.94.

Institutional Investors Weigh In On Modine Manufacturing

A number of institutional investors and hedge funds have recently modified their holdings of the business. 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 worth $157,000 after purchasing an additional 82 shares during the period. Truist Financial Corp grew its holdings in shares of Modine Manufacturing by 0.5% in the fourth quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company's stock worth $3,973,000 after purchasing an additional 159 shares during the last quarter. Principal Securities Inc. increased its stake in Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company's stock worth $63,000 after buying an additional 269 shares during the period. Legend Financial Advisors Inc. lifted its holdings in Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company's stock valued at $1,151,000 after buying an additional 279 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in Modine Manufacturing by 10.4% in the 4th quarter. Inspire Investing LLC now owns 3,442 shares of the auto parts company's stock valued at $399,000 after buying an additional 325 shares during the period. 95.23% of the stock is owned by institutional investors.

About Modine Manufacturing

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.