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

Modine Manufacturing Company (NYSE:MOD) shares gapped up prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MOD. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research report on Sunday, February 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Modine Manufacturing in a research report on Wednesday, May 6th. DA Davidson reissued a “buy” rating and set a $265.00 price target on shares of Modine Manufacturing in a research report on Tuesday, March 31st. Oppenheimer boosted their price target on shares of Modine Manufacturing from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, Roth Mkm assumed coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.33.

Modine Manufacturing Stock Down 1.3%

The firm’s 50-day simple moving average is $235.95 and its 200 day simple moving average is $189.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The stock has a market capitalization of $13.40 billion, a P/E ratio of 141.23, a PEG ratio of 1.00 and a beta of 1.66.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MOD. Capital Research Global Investors acquired a new position in shares of Modine Manufacturing during the 3rd quarter worth about $184,610,000. Invesco Ltd. increased its stake in shares of Modine Manufacturing by 120.4% during the 4th quarter. Invesco Ltd. now owns 1,318,529 shares of the auto parts company’s stock worth $176,037,000 after purchasing an additional 720,389 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Modine Manufacturing by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after purchasing an additional 560,131 shares during the last quarter. WT Asset Management Ltd acquired a new position in shares of Modine Manufacturing during the 4th quarter worth about $69,255,000. Finally, Janus Henderson Group PLC increased its stake in shares of Modine Manufacturing by 2,249.9% during the 1st quarter. Janus Henderson Group PLC now owns 523,507 shares of the auto parts company’s stock worth $113,459,000 after purchasing an additional 501,229 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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.