StockNews.com Downgrades Dana (NYSE:DAN) to Hold

StockNews.com downgraded shares of Dana (NYSE:DAN) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

DAN has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft restated a hold rating and set a $12.00 price objective on shares of Dana in a research report on Tuesday. UBS Group dropped their target price on shares of Dana from $14.00 to $12.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company upped their price objective on shares of Dana from $12.00 to $13.00 and gave the company an equal weight rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on shares of Dana in a report on Thursday, September 5th. They issued a peer perform rating for the company. Finally, Barclays upped their price objective on shares of Dana from $15.00 to $16.00 and gave the company an equal weight rating in a report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $14.67.

Dana Stock Performance

DAN opened at $9.85 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.48 and a quick ratio of 0.90. The firm has a fifty day moving average price of $11.15 and a 200 day moving average price of $12.21. Dana has a 1 year low of $9.16 and a 1 year high of $15.45. The stock has a market cap of $1.43 billion, a P/E ratio of 109.46, a P/E/G ratio of 0.49 and a beta of 2.29.

Dana (NYSE:DAN) last posted its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share. Equities research analysts anticipate that Dana will post 0.98 earnings per share for the current year.

Dana Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 9th were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 4.06%. Dana’s dividend payout ratio is presently 444.49%.

Institutional Trading of Dana

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Dana during the second quarter worth about $388,000. Great Lakes Advisors LLC lifted its position in shares of Dana by 89.5% during the fourth quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock worth $1,841,000 after purchasing an additional 59,502 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after purchasing an additional 5,468 shares in the last quarter. Finally, Cibc World Markets Corp lifted its position in shares of Dana by 46.0% during the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after purchasing an additional 375,000 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

About Dana

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.