Modine Manufacturing (NYSE:MOD) Sets New 1-Year High - Still a Buy?

Modine Manufacturing (NYSE:MOD - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $140.96 and last traded at $139.39, with a volume of 80034 shares changing hands. The stock had previously closed at $134.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. B. Riley increased their price target on Modine Manufacturing from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. William Blair began coverage on Modine Manufacturing in a report on Monday, July 29th. They set an "outperform" rating on the stock. Oppenheimer boosted their price target on Modine Manufacturing from $135.00 to $144.00 and gave the company an "outperform" rating in a report on Monday. Finally, DA Davidson raised their price objective on shares of Modine Manufacturing from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $146.33.

Modine Manufacturing Price Performance

The company has a current ratio of 1.80, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $118.35 and a 200 day moving average price of $105.88. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 1.02 and a beta of 2.22.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.18. The company had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. Modine Manufacturing's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, equities research analysts expect that Modine Manufacturing will post 3.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Marsha C. Williams sold 34,400 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the completion of the transaction, the director now owns 144,038 shares in the company, valued at $15,806,730.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by insiders.

Institutional Trading of Modine Manufacturing

Institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise boosted its stake in Modine Manufacturing by 9.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company's stock worth $117,000 after purchasing an additional 104 shares during the last quarter. Xponance Inc. lifted its stake in shares of Modine Manufacturing by 4.9% in the second quarter. Xponance Inc. now owns 3,270 shares of the auto parts company's stock worth $328,000 after buying an additional 153 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Modine Manufacturing by 0.7% during the second quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company's stock worth $2,123,000 after acquiring an additional 155 shares during the last quarter. Horizon Investment Services LLC grew its stake in Modine Manufacturing by 4.4% during the 1st quarter. Horizon Investment Services LLC now owns 4,558 shares of the auto parts company's stock valued at $434,000 after acquiring an additional 191 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in shares of Modine Manufacturing by 2.9% in the second quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company's stock valued at $701,000 after purchasing an additional 200 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Modine Manufacturing Company Profile

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.