Is Buying Modine Manufacturing Company (MOD) Here a Winning Strategy? The Stock Formed Bullish Double Top Pattern

December 7, 2017 - By Clifton Ray

Investors sentiment increased to 1.04 in 2017 Q2. Its up 0.15, from 0.89 in 2017Q1. It increased, as 15 investors sold Modine Manufacturing Company shares while 40 reduced holdings. 19 funds opened positions while 38 raised stakes. 41.55 million shares or 0.15% less from 41.61 million shares in 2017Q1 were reported.
Granahan Invest Ma stated it has 390,427 shares or 0.6% of all its holdings. Parametric Port reported 179,191 shares or 0% of all its holdings. 87,562 are owned by California State Teachers Retirement Systems. Rice Hall James & Associates Ltd owns 0.11% invested in Modine Manufacturing Company (NYSE:MOD) for 150,406 shares. Penn Capital Mngmt Communication holds 0.48% or 386,566 shares in its portfolio. Public Employees Retirement Of Ohio invested in 1,829 shares. 10,164 were reported by Jpmorgan Chase. Cubic Asset Mngmt Llc owns 21,275 shares for 0.1% of their portfolio. State Street has 903,139 shares. Ameritas Prtn stated it has 0% in Modine Manufacturing Company (NYSE:MOD). Ckw Fincl Grp holds 0% in Modine Manufacturing Company (NYSE:MOD) or 750 shares. State Board Of Administration Of Florida Retirement System holds 50,610 shares or 0% of its portfolio. Clearbridge Investments Limited Company holds 0.01% or 362,300 shares. New York-based Prelude has invested 0% in Modine Manufacturing Company (NYSE:MOD). Susquehanna Int Group Limited Liability Partnership holds 0% of its portfolio in Modine Manufacturing Company (NYSE:MOD) for 159,419 shares.

The chart of Modine Manufacturing Company (MOD) shows a double top with $21.84 target or 3.00 % above today’s $21.20 share price. The 5 months chart pattern indicates low risk for the $1.07 billion company. It was reported on Dec, 7 by Finviz.com. If the $21.84 price target is reached, the company will be worth $32.01 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.47% or $0.1 during the last trading session, reaching $21.2. About 357,085 shares traded or 16.91% up from the average. Modine Manufacturing Company (NYSE:MOD) has risen 17.98% since December 7, 2016 and is uptrending. It has outperformed by 1.28% the S&P500.

Analysts await Modine Manufacturing Company (NYSE:MOD) to report earnings on February, 5. They expect $0.28 EPS, up 33.33 % or $0.07 from last year’s $0.21 per share. MOD’s profit will be $14.09M for 18.93 P/E if the $0.28 EPS becomes a reality. After $0.36 actual EPS reported by Modine Manufacturing Company for the previous quarter, Wall Street now forecasts -22.22 % negative EPS growth.

Modine Manufacturing Company (NYSE:MOD) Ratings Coverage

Among 4 analysts covering Modine Manufacturing (NYSE:MOD), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Modine Manufacturing had 7 analyst reports since August 4, 2015 according to SRatingsIntel. The company was maintained on Tuesday, September 5 by Robert W. Baird. Seaport Global upgraded the stock to “Buy” rating in Thursday, March 24 report. The rating was downgraded by ValuEngine to “Hold” on Monday, May 29. On Tuesday, January 31 the stock rating was initiated by Gabelli with “Buy”. The rating was maintained by Robert W. Baird with “Buy” on Friday, May 26. Zacks downgraded the shares of MOD in report on Tuesday, August 4 to “Hold” rating.

More notable recent Modine Manufacturing Company (NYSE:MOD) news were published by: Prnewswire.com which released: “Modine Announces Plans to Close Gailtal, Austria Manufacturing Facility” on November 13, 2017, also Seekingalpha.com with their article: “Modine Manufacturing’s (MOD) CEO Tom Burke on Q1 2018 Results – Earnings Call …” published on August 05, 2017, Prnewswire.com published: “New ISCĀ® ICEGARD Presented At Autopromotec” on June 26, 2017. More interesting news about Modine Manufacturing Company (NYSE:MOD) were released by: Seekingalpha.com and their article: “Modine Manufacturing’s (MOD) CEO Tom Burke on Q2 2018 Results – Earnings Call …” published on November 01, 2017 as well as Seekingalpha.com‘s news article titled: “Modine Manufacturing’s (MOD) CEO Thomas Burke on Q4 2017 Results – Earnings …” with publication date: May 25, 2017.

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