Dana Incorporated (DAN) Stock Rating Lowered by Zacks Investment Research
Dana Incorporated (NYSE:DAN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. “
Other equities research analysts have also recently issued reports about the stock. CLSA assumed coverage on shares of Dana in a research report on Thursday, June 22nd. They issued a “buy” rating and a $27.00 price target on the stock. BidaskClub upgraded shares of Dana from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Guggenheim assumed coverage on shares of Dana in a research report on Wednesday, June 21st. They issued a “buy” rating and a $27.00 price target on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $27.00 price target on shares of Dana in a research report on Thursday, October 5th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $26.00 price target (up from $24.00) on shares of Dana in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.80.
Shares of Dana (NYSE DAN) traded down 0.03% during trading on Tuesday, hitting $29.00. 1,080,964 shares of the stock were exchanged. Dana has a 12-month low of $13.93 and a 12-month high of $29.31. The stock has a 50-day moving average of $26.45 and a 200 day moving average of $22.69. The stock has a market cap of $4.20 billion, a P/E ratio of 6.15 and a beta of 1.56.
Dana (NYSE:DAN) last posted its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.17. The business had revenue of $18.40 million during the quarter, compared to the consensus estimate of $1.67 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. The company’s quarterly revenue was down 98.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. Equities analysts predict that Dana will post $2.34 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of DAN. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dana by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock worth $113,000 after buying an additional 520 shares during the period. US Bancorp DE increased its holdings in shares of Dana by 15.0% in the 1st quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock valued at $183,000 after purchasing an additional 1,233 shares during the period. ETRADE Capital Management LLC acquired a new position in shares of Dana in the 2nd quarter valued at about $205,000. Shelton Capital Management acquired a new position in shares of Dana in the 1st quarter valued at about $210,000. Finally, Riverhead Capital Management LLC increased its holdings in shares of Dana by 70.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,056 shares of the auto parts company’s stock valued at $225,000 after purchasing an additional 4,156 shares during the period. Hedge funds and other institutional investors own 98.61% of the company’s stock.
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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