Dana (DAN) Bond Prices Fall 2.4%

An issue of Dana Inc (NYSE:DAN) debt fell 2.4% against its face value during trading on Thursday. The debt issue has a 5.75% coupon and is set to mature on April 15, 2025. The bonds in the issue are now trading at $94.75 and were trading at $98.00 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.

Several research firms have recently weighed in on DAN. Buckingham Research dropped their target price on shares of Dana from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, July 26th. Stephens reissued a “hold” rating and issued a $23.00 target price on shares of Dana in a research report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Dana from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 3rd. Wolfe Research began coverage on shares of Dana in a research report on Tuesday, October 2nd. They issued a “peer perform” rating on the stock. Finally, ValuEngine downgraded shares of Dana from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $27.67.

DAN traded down $0.36 on Friday, reaching $16.30. 2,059,774 shares of the company traded hands, compared to its average volume of 1,577,661. Dana Inc has a 52-week low of $15.89 and a 52-week high of $35.27. The company has a market capitalization of $2.70 billion, a PE ratio of 6.47, a PEG ratio of 4.99 and a beta of 1.68. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.05 and a current ratio of 1.63.

Dana (NYSE:DAN) last announced its quarterly earnings data on Wednesday, July 25th. The auto parts company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.04). Dana had a net margin of 2.51% and a return on equity of 32.56%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 11063.0% on a year-over-year basis. On average, equities analysts forecast that Dana Inc will post 2.95 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. grew its position in Dana by 54.8% during the second quarter. Macquarie Group Ltd. now owns 9,600 shares of the auto parts company’s stock valued at $194,000 after purchasing an additional 3,400 shares in the last quarter. Global X Management Co LLC bought a new stake in Dana in the second quarter worth approximately $220,000. Nomura Holdings Inc. bought a new stake in Dana in the second quarter worth approximately $262,000. PEAK6 Investments L.P. grew its position in Dana by 157.0% in the second quarter. PEAK6 Investments L.P. now owns 13,866 shares of the auto parts company’s stock worth $280,000 after acquiring an additional 38,182 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Dana in the second quarter worth approximately $328,000. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

About Dana (NYSE:DAN)

Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.

See Also: Stop Order

Receive News & Ratings for Dana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dana and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply