Dana Holding Corp. (DAN) Upgraded at Zacks Investment Research
Dana Holding Corp. (NYSE:DAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $17.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 11.70% from the stock’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. “
A number of other brokerages have also recently commented on DAN. Barclays PLC upgraded shares of Dana Holding Corp. from an “equal weight” rating to an “overweight” rating and increased 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 restated a “sector perform” rating and set a $14.00 price objective (up from $11.00) on shares of Dana Holding Corp. in a research report on Sunday, July 24th. FBR & Co restated a “buy” rating and set a $17.00 price objective on shares of Dana Holding Corp. in a research report on Friday, July 22nd. Finally, Royal Bank Of Canada raised their price objective on shares of Dana Holding Corp. from $11.00 to $14.00 and gave the stock a “sector perform” rating in a research report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.00.
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Shares of Dana Holding Corp. (NYSE:DAN) traded up 2.01% during trading on Wednesday, hitting $15.22. 1,433,293 shares of the company’s stock were exchanged. Dana Holding Corp. has a 12-month low of $9.80 and a 12-month high of $18.12. The company has a market cap of $2.19 billion, a P/E ratio of 17.08 and a beta of 1.94. The company has a 50-day moving average of $14.26 and a 200-day moving average of $12.92.
Dana Holding Corp. (NYSE:DAN) last issued its earnings results on Thursday, July 21st. The company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.07. The business earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Dana Holding Corp. had a net margin of 2.31% and a return on equity of 26.75%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. On average, equities analysts expect that Dana Holding Corp. will post $1.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.58%. The ex-dividend date was Wednesday, August 17th. Dana Holding Corp.’s dividend payout ratio (DPR) is presently 27.59%.
In other news, Director Mark A. Schulz sold 5,444 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $14.43, for a total value of $78,556.92. Following the completion of the transaction, the director now owns 30,201 shares of the company’s stock, valued at $435,800.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Schulz sold 10,201 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $14.60, for a total transaction of $148,934.60. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $292,000. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DNB Asset Management AS raised its position in Dana Holding Corp. by 57.8% in the second quarter. DNB Asset Management AS now owns 4,921,071 shares of the company’s stock valued at $51,967,000 after buying an additional 1,801,898 shares during the last quarter. Norges Bank acquired a new position in Dana Holding Corp. during the fourth quarter valued at approximately $21,018,000. AQR Capital Management LLC raised its position in Dana Holding Corp. by 323.2% in the second quarter. AQR Capital Management LLC now owns 1,326,672 shares of the company’s stock valued at $14,010,000 after buying an additional 1,013,181 shares during the last quarter. Walthausen & Co. LLC acquired a new position in Dana Holding Corp. during the second quarter valued at approximately $9,373,000. Finally, JPMorgan Chase & Co. raised its position in Dana Holding Corp. by 25.0% in the first quarter. JPMorgan Chase & Co. now owns 4,281,996 shares of the company’s stock valued at $60,333,000 after buying an additional 856,302 shares during the last quarter. 99.29% of the stock is owned by institutional investors and hedge funds.
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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