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

Modine Manufacturing Company (NYSE:MOD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $255.99, but opened at $246.30. Modine Manufacturing shares last traded at $255.2950, with a volume of 199,309 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Glj Research reaffirmed a “buy” rating and issued a $428.00 price objective on shares of Modine Manufacturing in a report on Monday, June 1st. DA Davidson reiterated a “buy” rating and issued a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Oppenheimer boosted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Finally, Wall Street Zen raised Modine Manufacturing from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $327.14.

Modine Manufacturing Stock Performance

The company’s fifty day simple moving average is $270.27 and its 200 day simple moving average is $214.28. The stock has a market capitalization of $13.50 billion, a P/E ratio of 114.72, a P/E/G ratio of 0.83 and a beta of 1.65. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a return on equity of 24.39% and a net margin of 3.82%.The company had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. During the same quarter last year, the business posted $1.12 earnings per share. The firm’s revenue was up 47.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Insider Transactions at Modine Manufacturing

In related news, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total value of $11,299,697.94. Following the transaction, the vice president directly owned 66,343 shares in the company, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Ashleman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total transaction of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. This represents a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. 2.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Modine Manufacturing

A number of hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Modine Manufacturing in the first 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 purchased a new stake in shares of Modine Manufacturing in the 4th quarter valued at $27,000. Optiver Holding B.V. boosted its holdings in Modine Manufacturing by 19.7% during the 1st quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 39 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in shares of Modine Manufacturing in the third quarter worth $39,000. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Modine Manufacturing Company Profile

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.