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Filed: 2026-11-03 AccNo: 0001104659-26-122032 Size: 5 MB Item 2.02: Results of Operations and Financial Condition Item 9.01: Financial Statements and Exhibits
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Following the company's fiscal second-quarter earnings report, Cantor Fitzgerald and UBS lowered their price targets for Modine Manufacturing while maintaining positive ratings.
Modine Manufacturing reported record quarterly order intake exceeding $1 billion for the first time, driven by surging AI workload demand for data center cooling solutions. The company is implementing price increases and long-term supplier contracts to offset rising material costs, while the spin-off of its Performance Technologies segment allows focused capital allocation toward higher-margin thermal management opportunities. Management expects continued margin improvements and is ramping up 20 operational chiller lines by fiscal year-end.
KeyBanc maintained an Overweight rating on Modine Manufacturing Company while lowering its price target to $225 from $280.
Modine Manufacturing Company reported a 35% year-over-year increase in net sales to $994.4 million for the second quarter of fiscal 2027 and raised its full-year outlook for continuing operations.
B. Riley Securities maintained its 'Buy' rating on Modine Manufacturing Company while lowering its price target from $305 to $285.