---
title: "Modine reports November 3 with Wall Street at $305 and the tape at $133"
description: "Modine's first results since giving its car business, and its name, to Gentherm land after the close on November 3, with the stock at $133.24 against a $305.67 average analyst target. The print tests whether 90 percent data-center growth can carry 56 times earnings on a falling gross margin, ten days before shareholders vote on the Modexus rename."
publisher: "The Inference"
section: "Data Center"
published: 2026-10-25T16:12:19.786Z
modified: 2026-10-25T16:12:19.786Z
canonical: https://theinference.org/article/modine-reports-november-3-with-wall-street-at-305-and-the-tape-at-133
language: en
keywords: "Modine, Data Center Cooling, Earnings, Analyst Targets, Spinoffs"
---

# Modine reports November 3 with Wall Street at $305 and the tape at $133

> Modine's first results since giving its car business, and its name, to Gentherm land after the close on November 3, with the stock at $133.24 against a $305.67 average analyst target. The print tests whether 90 percent data-center growth can carry 56 times earnings on a falling gross margin, ten days before shareholders vote on the Modexus rename.

## The trademark left with the car business

The Inference [covered the deal and the name's departure]({{article:gentherm-took-the-car-parts-business-and-the-110-year-old-modine-name-with-it}}) when it closed on October 1, 2026: [Modine](https://theinference.org/markets/companies/modine) handed its Performance Technologies vehicle business to Gentherm, the automotive comfort-systems maker, in a Reverse Morris Trust spin-off, and the Modine trademark was transferred with the business [1][2]. [The proxy filed October 13](https://www.stocktitan.net/sec-filings/MOD/def-14a-modine-manufacturing-co-definitive-proxy-statement-486b44267b0e.html) sets what follows [1]. Shareholders vote November 13 on renaming the 110-year-old Racine, Wisconsin company Modexus Solutions, a change that takes two-thirds of the 53,196,918 shares entitled to vote, with abstentions and unvoted shares counted as votes against; the ticker stays MOD [1].

## Nine targets against a $133 tape

MOD [closed October 23 at $133.24](https://www.marketbeat.com/earnings/reports/2026-11-3-modine-manufacturing-stock/), 59 percent below its 52-week high of $323.25 [3][4]. The sell side has not followed the tape down: the consensus rating is Moderate Buy at a $305.67 average target [4].

Cantor Fitzgerald [started coverage on October 20 at Overweight with a $275 target](https://www.marketscreener.com/news/cantor-fitzgerald-initiates-coverage-on-modine-manufacturing-with-overweight-rating-275-price-targ-ce785cd8d88af221), Baird went Outperform at $300 on October 6, and Oppenheimer held Outperform while cutting its target to $260 on October 2 [4][5]. Zacks alone says strong sell [4]. [BlackRock](https://theinference.org/markets/companies/blackrock) opened a $765.5 million position in the June quarter [4]. Estimates for the quarter ended September 30 stand at $1.38 a share on $972.43 million of revenue, up 31.6 percent [3].

*Chart: **Every published target sits at least 95 percent above the last close** Bar chart of Modine's October 23 closing price against published analyst price targets, all targets far above the close*

*NYSE close on October 23, 2026, against published analyst price targets for MOD. Sources: MarketBeat, MarketScreener. [3][4][5]*

## The June quarter grew 90 percent and lost margin

The June quarter explains the standoff. Revenue rose 28 percent to $874.1 million and still missed the $878.69 million estimate, while earnings of $1.53 a share beat by $0.26, the eighth beat in eight quarters [3][4].

[Gross margin fell to 20.8 percent from 24.2 percent](https://www.ad-hoc-news.de/boerse/news/nebenwerte/modine-steigert-umsatz-um-28-00-prozent-was-das-fuer-die-modine-aktie-bedeutet/70342805), a 340-basis-point cut the quarterly report tied to supply-chain problems in data-center cooling, and operating income slipped about 1 percent to $74.8 million [6]. The Data Centers segment, now the whole thesis, grew 90 percent to $348.6 million on a 20.2 percent segment gross margin [6].

The market pays about 56 times earnings for that mix [4]. [Vertiv](https://theinference.org/markets/companies/vertiv), which [took 42 percent of data-center liquid-cooling patent first filings in 2024](https://www.verdict.co.uk/vertiv-takes-42-of-data-centre-cooling-first-filings-up-from-3-in-three-years/) while Modine filed none, reports October 28, six days before Modine [8][9].

*Chart: **Gross margin in the June quarter was the lowest in three years of filings** Line chart of Modine's quarterly gross margin over twelve quarters, falling to 20.8 percent in the June 2026 quarter*

*Gross margin, percent of revenue, by calendar quarter from SEC filings; Q2 '26 is the June 2026 quarter, Modine's fiscal Q1 2027. Source: Modine quarterly filings. [7]*

## Two dates decide it

[Results land after the close on November 3](https://www.prnewswire.com/news-releases/modine-to-host-second-quarter-fiscal-2027-earnings-conference-call-on-november-4-2026-302914789.html), and the call runs 11 a.m [3][10]. ET on November 4 [3][10]. The number to watch is Data Centers gross margin against its 20.2 percent floor: the average target pays for a recovery the June quarter contradicted [4][6]. Shareholders vote on the name ten days later [1]. The release will show whether the company that kept the cooling business and the MOD ticker is still keeping its margin.

## Takeaway

Modine's November 3 print is a test of one number: whether Data Centers gross margin recovers from 20.2 percent, because a $305 analyst target and a 56-times multiple are priced for a margin recovery the June quarter contradicted.

## Sources

1. [StockTitan, Modine DEF 14A proxy: name change to Modexus Solutions, October 13, 2026](https://www.stocktitan.net/sec-filings/MOD/def-14a-modine-manufacturing-co-definitive-proxy-statement-486b44267b0e.html)
2. [Ad-hoc-news, Gentherm completes Modine deal: October 22 results test Gentherm stock, October 16, 2026](https://www.ad-hoc-news.de/boerse/news/nebenwerte/gentherm-completes-modine-deal-october-22-results-test-gentherm-stock/70328955)
3. [MarketBeat, Modine Manufacturing Q2 2027 Earnings Date and Estimates, prices as of October 23, 2026](https://www.marketbeat.com/earnings/reports/2026-11-3-modine-manufacturing-stock/)
4. [MarketBeat, Modine Manufacturing (NYSE:MOD) Stock Picked Up by Analysts at Cantor Fitzgerald, October 20, 2026](https://www.marketbeat.com/instant-alerts/analyst-modine-manufacturing-nyse-mod-stock-picked-up-by-analysts-at-cantor-fitzgerald-2026-10-20/)
5. [MarketScreener/MT Newswires, Cantor Fitzgerald Initiates Coverage on Modine With Overweight Rating, $275 Price Target, October 20, 2026](https://www.marketscreener.com/news/cantor-fitzgerald-initiates-coverage-on-modine-manufacturing-with-overweight-rating-275-price-targ-ce785cd8d88af221)
6. [Ad-hoc-news, Modine steigert Umsatz um 28,00 Prozent (fiscal Q1 2027 figures), October 17, 2026](https://www.ad-hoc-news.de/boerse/news/nebenwerte/modine-steigert-umsatz-um-28-00-prozent-was-das-fuer-die-modine-aktie-bedeutet/70342805)
7. [Modine Manufacturing quarterly figures from its SEC filings (EDGAR), retrieved October 25, 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000067347)
8. [Verdict, Vertiv takes 42% of data centre cooling first filings, up from 3% in three years, October 16, 2026](https://www.verdict.co.uk/vertiv-takes-42-of-data-centre-cooling-first-filings-up-from-3-in-three-years/)
9. [PRNewswire via MarketScreener, Vertiv Announces Date of Third Quarter 2026 Earnings Release and Conference Call, October 14, 2026](https://www.marketscreener.com/news/vertiv-announces-date-of-third-quarter-2026-earnings-release-and-conference-call-ce785dd2dc8fff21)
10. [PRNewswire, Modine to Host Second Quarter Fiscal 2027 Earnings Conference Call on November 4, 2026, October 21, 2026](https://www.prnewswire.com/news-releases/modine-to-host-second-quarter-fiscal-2027-earnings-conference-call-on-november-4-2026-302914789.html)


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Modine reports November 3 with Wall Street at $305 and the tape at $133 — The Inference. Canonical: https://theinference.org/article/modine-reports-november-3-with-wall-street-at-305-and-the-tape-at-133