Dana (NYSE:DAN) Price Target Cut to $22.00

Dana (NYSE:DAN) had its target price lowered by Barclays from $24.00 to $22.00 in a research report released on Thursday, BenzingaRatingsTable reports. The firm currently has an overweight rating on the auto parts company’s stock.

A number of other research firms also recently commented on DAN. Credit Suisse Group started coverage on shares of Dana in a research note on Wednesday, June 26th. They set an outperform rating and a $22.00 price objective on the stock. ValuEngine downgraded shares of Dana from a sell rating to a strong sell rating in a research note on Thursday, August 1st. TheStreet downgraded shares of Dana from a b- rating to a c+ rating in a research note on Tuesday, August 20th. Zacks Investment Research upgraded shares of Dana from a sell rating to a hold rating in a research note on Monday, August 12th. Finally, KeyCorp reduced their price objective on shares of Dana from $22.00 to $20.00 and set an overweight rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Dana presently has a consensus rating of Buy and an average price target of $21.10.

NYSE DAN opened at $15.23 on Thursday. Dana has a 12 month low of $11.57 and a 12 month high of $21.17. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.63 and a quick ratio of 1.01. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 5.13, a price-to-earnings-growth ratio of 1.26 and a beta of 2.25. The company’s fifty day moving average price is $14.23 and its two-hundred day moving average price is $17.15.

Dana (NYSE:DAN) last posted its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.02). Dana had a net margin of 2.67% and a return on equity of 29.55%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company earned $0.74 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Dana will post 3.22 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a $0.10 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.63%. Dana’s dividend payout ratio (DPR) is presently 13.47%.

In related news, EVP Mark E. Wallace sold 44,570 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $13.41, for a total value of $597,683.70. Following the sale, the executive vice president now owns 145,431 shares of the company’s stock, valued at approximately $1,950,229.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in DAN. Victory Capital Management Inc. increased its holdings in shares of Dana by 3,016.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,310,709 shares of the auto parts company’s stock worth $26,136,000 after acquiring an additional 1,268,646 shares during the period. Morgan Stanley increased its holdings in shares of Dana by 722.6% in the 2nd quarter. Morgan Stanley now owns 1,163,065 shares of the auto parts company’s stock worth $23,192,000 after acquiring an additional 1,021,673 shares during the period. BlackRock Inc. increased its holdings in shares of Dana by 5.0% in the 2nd quarter. BlackRock Inc. now owns 19,040,843 shares of the auto parts company’s stock worth $379,673,000 after acquiring an additional 906,329 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Dana by 47.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,602,629 shares of the auto parts company’s stock worth $51,896,000 after acquiring an additional 842,244 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Dana by 46.5% in the 2nd quarter. Prudential Financial Inc. now owns 2,602,147 shares of the auto parts company’s stock worth $51,887,000 after acquiring an additional 825,433 shares during the period. 95.01% of the stock is currently owned by institutional investors and hedge funds.

About Dana

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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Analyst Recommendations for Dana (NYSE:DAN)

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