Stock Mover of The Day: Could Modine Manufacturing Co. Go Down After Reaching 52-Week High?

Stock Mover of The Day: Could Modine Manufacturing Co. Go Down After Reaching 52 Week High?

The stock of Modine Manufacturing Co. (NYSE:MOD) hit a new 52-week high and has $13.71 target or 6.00% above today’s $12.93 share price. The 8 months bullish chart indicates low risk for the $589.92 million company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $13.71 price target is reached, the company will be worth $35.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 198,439 shares traded hands or 19.88% up from the average. Modine Manufacturing Co. (NYSE:MOD) has risen 8.39% since April 28, 2016 and is uptrending. It has outperformed by 2.47% the S&P500.

Analysts await Modine Manufacturing Co. (NYSE:MOD) to report earnings on February, 7. They expect $0.23 earnings per share, up 4.55% or $0.01 from last year’s $0.22 per share. MOD’s profit will be $10.49 million for 14.05 P/E if the $0.23 EPS becomes a reality. After $-0.01 actual earnings per share reported by Modine Manufacturing Co. for the previous quarter, Wall Street now forecasts -2,400.00% EPS growth.

Modine Manufacturing Co. (NYSE:MOD) Ratings Coverage

Out of 2 analysts covering Modine Manufacturing (NYSE:MOD), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Modine Manufacturing has been the topic of 3 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was upgraded by Seaport Global to “Buy” on Thursday, March 24. Zacks downgraded the stock to “Hold” rating in Tuesday, August 4 report.

According to Zacks Investment Research, “Modine operates primarily in a single industry consisting of the manufacture and sale of heat transfer equipment. This includes heat exchangers for cooling all types of engines, transmissions, auxiliary hydraulic equipment, air conditioning components used in cars, trucks, farm and construction machinery and equipment, and heating and cooling equipment for residential and commercial building HVAC (heating, ventilating, air conditioning and refrigeration equipment).”

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.48, from 1.43 in 2016Q1. The ratio dived, as 10 funds sold all Modine Manufacturing Co. shares owned while 37 reduced positions. 25 funds bought stakes while 42 increased positions. They now own 39.31 million shares or 1.50% more from 38.73 million shares in 2016Q1.
Los Angeles Capital & Equity Rech has 0% invested in the company for 21,690 shares. Tiaa Cref Investment Management Limited Co has 0% invested in the company for 208,176 shares. Aqr Capital Management Limited Liability holds 147,358 shares or 0% of its portfolio. Glenmede Na last reported 154 shares in the company. Qs Investors Ltd Llc, a New York-based fund reported 186,940 shares. Shell Asset Mngmt Company has 72,177 shares for 0.01% of their US portfolio. Moreover, State Common Retirement Fund has 0% invested in Modine Manufacturing Co. (NYSE:MOD) for 43,700 shares. Morgan Stanley accumulated 34,357 shares or 0% of the stock. Great West Life Assurance Company Can accumulated 0% or 2,382 shares. Nordea Investment Ab reported 88,200 shares or 0% of all its holdings. Menta Lc reported 42,553 shares or 0.05% of all its holdings. Johnson Financial accumulated 412 shares or 0% of the stock. The Ontario – Canada-based Manufacturers Life Insur The has invested 0% in Modine Manufacturing Co. (NYSE:MOD). Blackrock holds 0% or 21,660 shares in its portfolio. First Mercantile Trust Communications last reported 10,553 shares in the company.

Insider Transactions: Since November 14, 2016, the stock had 0 buys, and 1 sale for $9,775 net activity. 850 shares were sold by Patterson Christopher William, worth $9,775.

More important recent Modine Manufacturing Co. (NYSE:MOD) news were published by: Streetinsider.com which released: “Modine Manufacturing (MOD) Completes Luvata Heat Transfer Solutions Acquisition” on November 30, 2016, also Prnewswire.com published article titled: “Modine Manufacturing Company Pursuing Joint Venture In China”, Prnewswire.com published: “Modine Announces Executive Organizational Changes To Support Luvata HTS …” on September 09, 2016. More interesting news about Modine Manufacturing Co. (NYSE:MOD) was released by: Prnewswire.com and their article: “Modine Manufacturing Company Completes Joint Venture In China” with publication date: January 29, 2016.

MOD Company Profile

Modine Manufacturing Company, incorporated on June 23, 1916, specializes in providing thermal management solutions. The Firm is a well-known provider of engineered heat transfer systems and heat transfer components for use in on-highway and off-highway original equipment maker (OEM) vehicular applications, and for sale into an array of building, industrial and refrigeration markets. The Company’s products include radiators and radiator cores, condensers, oil coolers, charge air coolers, heat-transfer modules and assemblies, exhaust gas recirculation (EGR) coolers, building heating, ventilating and air conditioning (HVAC) equipment, and coils. The Company’s divisions include Americas, Europe, Asia and Building HVAC.

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