Dana (NYSE:DAN) Trading Down 12.9% After Earnings Miss

Dana Inc (NYSE:DAN) dropped 12.9% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $16.40 and last traded at $16.71, approximately 6,856,393 shares were traded during trading. An increase of 280% from the average daily volume of 1,806,013 shares. The stock had previously closed at $19.18.

The auto parts company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.02). The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.35 billion. Dana had a net margin of 5.11% and a return on equity of 31.31%. Dana’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS.

DAN has been the topic of several recent analyst reports. Wolfe Research lowered shares of Dana from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 18th. They noted that the move was a valuation call. ValuEngine upgraded shares of Dana from a “strong sell” rating to a “sell” rating in a report on Thursday, June 27th. Credit Suisse Group began coverage on shares of Dana in a report on Wednesday, June 26th. They set an “outperform” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Dana from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $21.10.

In other news, VP James D. Kellett sold 2,825 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $16.05, for a total transaction of $45,341.25. Following the transaction, the vice president now owns 2,704 shares in the company, valued at $43,399.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management raised its holdings in shares of Dana by 1.1% in the 1st quarter. LSV Asset Management now owns 2,603,403 shares of the auto parts company’s stock worth $46,184,000 after acquiring an additional 28,400 shares during the last quarter. Norges Bank acquired a new stake in shares of Dana in the 4th quarter worth about $30,517,000. Wells Fargo & Company MN raised its holdings in shares of Dana by 9.5% in the 1st quarter. Wells Fargo & Company MN now owns 1,719,204 shares of the auto parts company’s stock worth $30,499,000 after acquiring an additional 149,864 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Dana by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 1,617,488 shares of the auto parts company’s stock worth $22,045,000 after acquiring an additional 175,414 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Dana by 1.6% in the 4th quarter. Bank of America Corp DE now owns 973,344 shares of the auto parts company’s stock worth $13,266,000 after acquiring an additional 14,935 shares during the last quarter. Hedge funds and other institutional investors own 94.31% of the company’s stock.

The company has a current ratio of 1.63, a quick ratio of 1.02 and a debt-to-equity ratio of 1.67. The firm has a market cap of $2.81 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of 1.66 and a beta of 2.19. The company has a fifty day moving average price of $18.46.

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 Drive and Motion Technologies, and Power Technologies.

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