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

Modine Manufacturing Company (NYSE:MOD)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $257.33, but opened at $268.00. Modine Manufacturing shares last traded at $252.2870, with a volume of 159,401 shares.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Roth Mkm assumed coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Modine Manufacturing in a research note on Wednesday, May 6th. Zacks Research lowered shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Glj Research assumed coverage on shares of Modine Manufacturing in a research note on Monday, March 30th. They issued a “buy” rating and a $290.00 price target on the stock. Finally, Oppenheimer upped their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus target price of $234.33.

Modine Manufacturing Stock Performance

The stock’s 50-day simple moving average is $235.95 and its 200-day simple moving average is $189.52. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 141.23, a price-to-earnings-growth ratio of 1.00 and a beta of 1.66. The company has a current ratio of 2.19, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MOD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Modine Manufacturing by 26.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,223 shares of the auto parts company’s stock worth $2,857,000 after purchasing an additional 7,831 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Modine Manufacturing by 8.3% during the 2nd quarter. California Public Employees Retirement System now owns 68,702 shares of the auto parts company’s stock worth $6,767,000 after purchasing an additional 5,244 shares in the last quarter. State Street Corp grew its position in shares of Modine Manufacturing by 4.2% during the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company’s stock worth $128,985,000 after purchasing an additional 53,351 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Modine Manufacturing by 106.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 161,319 shares of the auto parts company’s stock worth $15,890,000 after purchasing an additional 83,105 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Modine Manufacturing by 70.8% during the 2nd quarter. Sei Investments Co. now owns 309,653 shares of the auto parts company’s stock worth $30,501,000 after purchasing an additional 128,348 shares in the last quarter. Institutional investors and hedge funds 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.