Could Modine Manufacturing Company (MOD) See a Reversal After Having Formed Several Months Bullish Double Top Chart Pattern

December 7, 2017 - By Adrian Mccoy

Investors sentiment increased to 1.04 in 2017 Q2. Its up 0.15, from 0.89 in 2017Q1. It is positive, 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.
Parametric Assoc Ltd holds 0% of its portfolio in Modine Manufacturing Company (NYSE:MOD) for 179,191 shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 2,162 shares or 0% of their US portfolio. Dc Capital Advsr accumulated 221,692 shares. Rice Hall James Associate Lc holds 0.11% or 150,406 shares. Ameritas Prns invested 0% of its portfolio in Modine Manufacturing Company (NYSE:MOD). Stifel Financial invested 0.04% in Modine Manufacturing Company (NYSE:MOD). Clearbridge Invests Limited reported 362,300 shares. D E Shaw & owns 0.01% invested in Modine Manufacturing Company (NYSE:MOD) for 317,946 shares. Aqr Mgmt Lc has invested 0% in Modine Manufacturing Company (NYSE:MOD). 272,080 were reported by Oarsman Cap Incorporated. Moreover, California State Teachers Retirement Systems has 0% invested in Modine Manufacturing Company (NYSE:MOD) for 87,562 shares. Qs Invsts Limited Company has invested 0% in Modine Manufacturing Company (NYSE:MOD). Kirr Marbach And Ltd Liability Company In stated it has 0.12% in Modine Manufacturing Company (NYSE:MOD). Moreover, Wedge Cap Mngmt L L P Nc has 0.16% invested in Modine Manufacturing Company (NYSE:MOD). Gabelli Funds Lc holds 1.07M shares or 0.1% of its portfolio.

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. Robert W. Baird maintained Modine Manufacturing Company (NYSE:MOD) on Tuesday, September 5 with “Buy” rating. On Monday, May 29 the stock rating was downgraded by ValuEngine to “Hold”. On Tuesday, August 4 the stock rating was downgraded by Zacks to “Hold”. Gabelli initiated it with “Buy” rating and $22 target in Tuesday, January 31 report. The rating was upgraded by Seaport Global to “Buy” on Thursday, March 24. Robert W. Baird maintained the shares of MOD in report on Friday, May 26 with “Buy” 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 Prnewswire.com with their article: “New ISCĀ® 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: 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 Seekingalpha.com‘s news article titled: “Modine Manufacturing’s (MOD) CEO Tom Burke on Q2 2018 Results – Earnings Call …” with publication date: November 01, 2017.

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