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Oppenheimer initates Modine Manufacturing Co. (MOD) rating to an Outperform

ZOM Stock

Modine Manufacturing Co.’s recent filing unveils that its VP, Human Resources Agen Brian Jon unloaded Company’s shares for reported $1.61 million on Mar 28 ’24. In the deal valued at $95.64 per share,16,799 shares were sold. As a result of this transaction, Agen Brian Jon now holds 102,409 shares worth roughly $10.82 million.

Then, Wilson David J. sold 8,000 shares, generating $713,768 in total proceeds. Upon selling the shares at $89.22, the Director now owns 6,109 shares.

Before that, Patterson Christopher William sold 14,225 shares. Modine Manufacturing Co. shares valued at $1,288,243 were divested by the Director at a price of $90.56 per share. As a result of the transaction, Patterson Christopher William now holds 97,517 shares, worth roughly $10.3 million.

Oppenheimer initiated its Modine Manufacturing Co. [MOD] rating to an Outperform in a research note published on March 19, 2024; the price target was $105. B. Riley Securities began covering MOD with “Buy” recommendation on June 07, 2023. CJS Securities started covering the stock on December 06, 2022. It rated MOD as “a Market outperform”.

Price Performance Review of MOD

On Tuesday, Modine Manufacturing Co. [NYSE:MOD] saw its stock jump 4.35% to $105.66. Over the last five days, the stock has gained 0.77%. Modine Manufacturing Co. shares have risen nearly 76.98% since the year began. Nevertheless, the stocks have risen 415.67% over the past one year. While a 52-week high of $109.13 was reached on 05/10/24, a 52-week low of $19.53 was recorded on 01/04/24. SMA at 50 days reached $93.38, while 200 days put it at $63.96. A total of 0.52 million shares were traded, compared to the trading of 0.46 million shares in the previous session.

Levels Of Support And Resistance For MOD Stock

The 24-hour chart illustrates a support level at 102.58, which if violated will result in even more drops to 99.50. On the upside, there is a resistance level at 107.33. A further resistance level may holdings at 108.99. The Relative Strength Index (RSI) on the 14-day chart is 64.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.38, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.67%. Stochastics %K at 74.10% indicates the stock is a holding.

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