On May 27, Modine Manufacturing fell 5.36% in regular trading, trading at $280.85/share, with trading volume of $225 million. The pullback follows the prior session's approximately 18% surge driven by dual catalysts.
On May 26, the company announced a landmark long-term capacity agreement with a strategic data center customer valued at over $4 billion, covering Airedale by Modine cooling solutions through 2029, with the customer providing a $165 million upfront cash payment to support capacity expansion. Additionally, the company reported fiscal Q4 adjusted earnings of $1.71 per diluted share, beating the analyst consensus estimate of $1.55 by 9.62%, while revenue of $954.4 million exceeded expectations of $920.7 million. For fiscal 2027, management guided net sales growth of 20% to 35% and adjusted EBITDA of $650 million to $680 million. B.Riley subsequently raised its price target from $264 to $340, maintaining a Buy rating. Despite the strong fundamental backdrop, the stock appears to be experiencing a sell-the-news pullback following the outsized prior-session gains.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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