Dana Incorporated (DAN) Earns Buy Rating from Royal Bank Of Canada
Dana Incorporated (NYSE:DAN)‘s stock had its “buy” rating restated by research analysts at Royal Bank Of Canada in a note issued to investors on Thursday. They presently have a $27.00 target price on the auto parts company’s stock. Royal Bank Of Canada’s target price suggests a potential downside of 5.13% from the stock’s previous close.
Several other research firms have also recently weighed in on DAN. BidaskClub cut Dana from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Barclays PLC cut Dana from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $23.00 to $24.00 in a report on Wednesday, July 19th. Guggenheim initiated coverage on Dana in a report on Wednesday, June 21st. They set a “buy” rating and a $27.00 price target on the stock. UBS AG cut Dana to a “neutral” rating in a report on Thursday, July 13th. Finally, Zacks Investment Research cut Dana from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Dana presently has an average rating of “Hold” and a consensus price target of $23.80.
Dana (NYSE:DAN) remained flat at $28.46 during mid-day trading on Thursday. The company’s stock had a trading volume of 103,391 shares. Dana has a 52-week low of $13.93 and a 52-week high of $29.16. The company has a 50-day moving average price of $25.26 and a 200-day moving average price of $22.16. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 6.04 and a beta of 1.56.
Dana (NYSE:DAN) last issued its earnings results on Monday, July 31st. The auto parts company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.51 by $0.17. Dana had a return on equity of 30.79% and a net margin of 10.80%. The business had revenue of $18.40 million for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business posted $0.53 EPS. The company’s revenue was down 98.8% compared to the same quarter last year. Analysts anticipate that Dana will post $2.33 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Dana by 16,306.0% in the 1st quarter. BlackRock Inc. now owns 15,385,037 shares of the auto parts company’s stock worth $297,086,000 after purchasing an additional 15,291,260 shares during the period. Vanguard Group Inc. raised its holdings in Dana by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 12,122,567 shares of the auto parts company’s stock worth $270,696,000 after purchasing an additional 391,487 shares during the period. State Street Corp raised its holdings in Dana by 3.3% in the 2nd quarter. State Street Corp now owns 5,224,885 shares of the auto parts company’s stock worth $116,673,000 after purchasing an additional 165,291 shares during the period. Dimensional Fund Advisors LP raised its holdings in Dana by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,342,803 shares of the auto parts company’s stock worth $96,975,000 after purchasing an additional 484,520 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Dana by 14.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,884,437 shares of the auto parts company’s stock worth $86,740,000 after purchasing an additional 481,611 shares during the period. 98.61% of the stock is currently owned by institutional investors.
Dana Company Profile
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. 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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