Modine Manufacturing (NYSE:MOD) Sets New 52-Week High – Time to Buy?

Modine Manufacturing Company (NYSE:MOD)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $289.82 and last traded at $289.5450, with a volume of 412898 shares trading hands. The stock had previously closed at $279.20.

Analyst Ratings Changes

Several brokerages recently issued reports on MOD. Weiss Ratings restated a “hold (c-)” rating on shares of Modine Manufacturing in a research report on Wednesday, May 6th. Zacks Research cut Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. DA Davidson reiterated a “buy” rating and issued a $265.00 target price on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Roth Mkm initiated coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They set a “buy” rating and a $263.00 price target for the company. Finally, Wall Street Zen downgraded Modine Manufacturing from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.33.

Modine Manufacturing Trading Down 6.9%

The company has a market cap of $14.34 billion, a price-to-earnings ratio of 151.04, a P/E/G ratio of 1.19 and a beta of 1.66. The business has a fifty day simple moving average of $232.82 and a 200 day simple moving average of $187.40. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Institutional Trading of Modine Manufacturing

A number of institutional investors have recently added to or reduced their stakes in MOD. V Square Quantitative Management LLC acquired a new stake in shares of Modine Manufacturing during the 1st quarter valued at approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in Modine Manufacturing in the 4th quarter valued at approximately $25,000. Spire Wealth Management acquired a new position in Modine Manufacturing during the fourth quarter worth $27,000. First Horizon Corp acquired a new position in Modine Manufacturing during the third quarter worth $38,000. Finally, Sunbelt Securities Inc. purchased a new stake in Modine Manufacturing during the third quarter worth $39,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

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.