Could Modine Manufacturing Company (MOD) Gain Strenght After Forming Double Top Chart Pattern?

December 7, 2017 - By Peter Erickson

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.
Voya Invest Mgmt Lc has 22,633 shares for 0% of their portfolio. Ubs Asset Management Americas has 0% invested in Modine Manufacturing Company (NYSE:MOD) for 12,998 shares. Quantbot Techs L P holds 0% or 779 shares in its portfolio. Fincl Bank Of Ny Mellon Corp stated it has 0% of its portfolio in Modine Manufacturing Company (NYSE:MOD). Public Employees Retirement Of Ohio holds 1,829 shares or 0% of its portfolio. Ionic Capital Mgmt Ltd Limited Liability Company invested 0.24% in Modine Manufacturing Company (NYSE:MOD). Ameritas Invest Prns has invested 0% in Modine Manufacturing Company (NYSE:MOD). Hsbc Public Ltd Com owns 11,732 shares. 100,268 were reported by Comerica Retail Bank. Icm Asset Management Wa invested in 134,545 shares. Tricadia Mgmt Ltd Liability Company stated it has 1.29% of its portfolio in Modine Manufacturing Company (NYSE:MOD). 21,275 are owned by Cubic Asset Lc. Massachusetts-based Monarch Asset Management Limited Liability Company has invested 0.48% in Modine Manufacturing Company (NYSE:MOD). Strs Ohio holds 0% of its portfolio in Modine Manufacturing Company (NYSE:MOD) for 11,700 shares. Oarsman Cap holds 2.06% of its portfolio in Modine Manufacturing Company (NYSE:MOD) for 272,080 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 $14.09M 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 rating was maintained by Robert W. Baird on Tuesday, September 5 with “Buy”. The firm has “Hold” rating by ValuEngine given on Monday, May 29. The firm has “Buy” rating by Seaport Global given on Thursday, March 24. The firm earned “Buy” rating on Friday, May 26 by Robert W. Baird. The rating was initiated by Gabelli on Tuesday, January 31 with “Buy”. The rating was downgraded by Zacks to “Hold” on Tuesday, August 4.

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: “Modine Announces Plans to Close Gailtal, Austria Manufacturing Facility” published on November 13, 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: Seekingalpha.com and their article: “Modine Manufacturing’s (MOD) CEO Thomas Burke on Q4 2017 Results – Earnings …” published on May 25, 2017 as well as Prnewswire.com‘s news article titled: “New ISC® ICEGARD Presented At Autopromotec” with publication date: June 26, 2017.

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