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

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

Several other equities research analysts have also commented on DAN. Credit Suisse Group assumed coverage on shares of Dana in a research note on Wednesday, June 26th. They set an outperform rating and a $22.00 price target on the stock. TheStreet lowered shares of Dana from a b- rating to a c+ rating in a research note on Tuesday, August 20th. KeyCorp cut their price target on shares of Dana from $22.00 to $20.00 and set an overweight rating on the stock in a research note on Thursday. ValuEngine lowered shares of Dana from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Dana from a sell rating to a hold rating in a research note on Monday, August 12th. One investment 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. The stock has an average rating of Buy and a consensus target price of $21.10.

Shares of NYSE:DAN opened at $15.23 on Thursday. The company’s fifty day moving average price is $14.23 and its 200 day moving average price is $17.15. 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 firm has a market capitalization of $2.07 billion, a P/E ratio of 5.13, a P/E/G ratio of 1.26 and a beta of 2.25.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.02). Dana had a return on equity of 29.55% and a net margin of 2.67%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. Dana’s revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Dana will post 3.22 EPS for the current year.

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

In other Dana news, EVP Mark E. Wallace sold 44,570 shares of the company’s 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 $1,950,229.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atria Investments LLC acquired a new position in shares of Dana in the second quarter valued at approximately $239,000. BlackRock Inc. raised its position in shares of Dana by 5.0% in the second quarter. BlackRock Inc. now owns 19,040,843 shares of the auto parts company’s stock valued at $379,673,000 after buying an additional 906,329 shares during the last quarter. United Services Automobile Association raised its position in shares of Dana by 6.7% in the second quarter. United Services Automobile Association now owns 221,397 shares of the auto parts company’s stock valued at $4,415,000 after buying an additional 13,852 shares during the last quarter. Prestige Wealth Management Group LLC acquired a new position in shares of Dana in the second quarter valued at approximately $439,000. Finally, Nuveen Asset Management LLC raised its position in shares of Dana by 47.8% in the second quarter. Nuveen Asset Management LLC now owns 2,602,629 shares of the auto parts company’s stock valued at $51,896,000 after buying an additional 842,244 shares during the last quarter. 95.01% of the stock is currently owned by institutional investors.

Dana Company Profile

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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