Dana Holding Corp. (DAN) Stock Rating Upgraded by Zacks Investment Research
Dana Holding Corp. (NYSE:DAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $17.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.70% from the company’s previous close.
According to Zacks, “Dana Inc. is a provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies. It operates primarily in North America, South America, Europe and Asia pacific. Dana Inc., formerly known as Dana Holding Corporation, is headquartered in Maumee, Ohio. “
DAN has been the subject of a number of other research reports. FBR & Co reaffirmed a “buy” rating and issued a $17.00 target price on shares of Dana Holding Corp. in a research report on Friday, July 22nd. Barclays PLC raised shares of Dana Holding Corp. from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $12.00 to $20.00 in a research report on Friday, September 16th. They noted that the move was a valuation call. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $14.00 target price (up previously from $11.00) on shares of Dana Holding Corp. in a research report on Sunday, July 24th. Finally, Royal Bank Of Canada raised their target price on shares of Dana Holding Corp. from $11.00 to $14.00 and gave the company a “sector perform” rating in a research report on Friday, July 22nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.00.
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Dana Holding Corp. (NYSE:DAN) traded up 2.01% on Wednesday, hitting $15.22. 1,433,293 shares of the stock traded hands. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 17.08 and a beta of 1.94. The firm’s 50 day moving average is $14.26 and its 200 day moving average is $12.92. Dana Holding Corp. has a 52 week low of $9.80 and a 52 week high of $18.12.
Dana Holding Corp. (NYSE:DAN) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.07. Dana Holding Corp. had a net margin of 2.31% and a return on equity of 26.75%. The company earned $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. Equities analysts anticipate that Dana Holding Corp. will post $1.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, August 17th. Dana Holding Corp.’s dividend payout ratio is currently 27.59%.
In other news, Director Mark A. Schulz sold 5,444 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $14.43, for a total transaction of $78,556.92. Following the completion of the sale, the director now owns 30,201 shares in the company, valued at approximately $435,800.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark A. Schulz sold 10,201 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $14.60, for a total transaction of $148,934.60. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $292,000. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of DAN. Mason Street Advisors LLC bought a new stake in Dana Holding Corp. during the second quarter worth about $712,000. Royal Bank of Canada raised its position in Dana Holding Corp. by 2.2% in the second quarter. Royal Bank of Canada now owns 130,822 shares of the company’s stock worth $1,381,000 after buying an additional 2,763 shares in the last quarter. Walthausen & Co. LLC acquired a new position in Dana Holding Corp. during the second quarter worth approximately $9,373,000. Legal & General Group Plc raised its position in Dana Holding Corp. by 44.7% in the second quarter. Legal & General Group Plc now owns 166,395 shares of the company’s stock worth $1,752,000 after buying an additional 51,405 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in Dana Holding Corp. by 1.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 246,016 shares of the company’s stock worth $2,598,000 after buying an additional 3,521 shares in the last quarter. Institutional investors own 99.29% of the company’s stock.
About Dana Holding Corp.
Dana Inc, formerly Dana Holding Corporation, is a provider of high technology driveline, sealing and thermal-management products. The Company offers its products to vehicle manufacturers in the global light vehicle, medium/heavy vehicle and off-highway markets. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
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