Some Traders Are Very Bullish on Modine Manufacturing Company (MOD) After Forming Bullish Double Top

December 7, 2017 - By Henry Gaston

Investors sentiment increased to 1.04 in Q2 2017. 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.
34 are held by Qs Invsts Lc. 10,448 were accumulated by Glenmede Tru Na. First Advisors Ltd Partnership holds 40,200 shares or 0% of its portfolio. Savings Bank Of America Corp De reported 0% in Modine Manufacturing Company (NYSE:MOD). Penn Cap reported 386,566 shares. Thrivent For Lutherans reported 0.02% stake. Putnam Invests Ltd Liability Company reported 0% of its portfolio in Modine Manufacturing Company (NYSE:MOD). Globeflex Ltd Partnership has 0.02% invested in Modine Manufacturing Company (NYSE:MOD) for 5,437 shares. Jacobs Levy Equity Management Inc holds 0.01% or 39,214 shares in its portfolio. Tiaa Cref Inv Mngmt Lc stated it has 158,755 shares. Zebra Capital Mgmt Ltd Liability Corp holds 0.12% of its portfolio in Modine Manufacturing Company (NYSE:MOD) for 24,143 shares. Oarsman Capital holds 2.06% or 272,080 shares in its portfolio. Clearbridge Invests Ltd Liability Corp has invested 0.01% in Modine Manufacturing Company (NYSE:MOD). Cubic Asset Mngmt Lc holds 21,275 shares or 0.1% of its portfolio. Prelude Cap Management Ltd Co owns 1,014 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 earnings per share, up 33.33 % or $0.07 from last year’s $0.21 per share. MOD’s profit will be $14.09 million for 18.93 P/E if the $0.28 EPS becomes a reality. After $0.36 actual earnings per share 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 firm has “Buy” rating by Gabelli given on Tuesday, January 31. The stock of Modine Manufacturing Company (NYSE:MOD) earned “Hold” rating by Zacks on Tuesday, August 4. The firm has “Buy” rating given on Tuesday, September 5 by Robert W. Baird. The firm has “Buy” rating given on Friday, May 26 by Robert W. Baird. Seaport Global upgraded Modine Manufacturing Company (NYSE:MOD) on Thursday, March 24 to “Buy” rating. The rating was downgraded by ValuEngine to “Hold” on Monday, May 29.

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