Dana Incorporated (DAN) Raised to Strong-Buy at Zacks Investment Research
Dana Incorporated (NYSE:DAN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The brokerage presently has a $34.00 price objective on the auto parts company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 17.08% from the company’s current price.
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. “
Several other research analysts have also recently weighed in on DAN. Barclays PLC reiterated an “equal weight” rating and issued a $26.00 price target (up previously from $24.00) on shares of Dana in a report on Wednesday, August 2nd. UBS AG upped their price target on shares of Dana from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday. Buckingham Research upped their price target on shares of Dana from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. BidaskClub lowered shares of Dana from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $27.00 price objective on shares of Dana in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Dana presently has a consensus rating of “Hold” and a consensus target price of $25.30.
Dana (NYSE DAN) traded down 0.79% during midday trading on Monday, reaching $29.04. 690,442 shares of the company’s stock were exchanged. The stock has a market cap of $4.20 billion, a P/E ratio of 6.16 and a beta of 1.56. The firm’s 50-day moving average is $27.18 and its 200 day moving average is $23.00. Dana has a 1-year low of $14.53 and a 1-year high of $29.64.
Dana (NYSE:DAN) last released its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.17. The company had revenue of $18.40 million during the quarter, compared to analysts’ expectations of $1.67 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. The business’s quarterly revenue was down 98.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities analysts anticipate that Dana will post $2.36 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of DAN. Acadian Asset Management LLC bought a new stake in Dana during the third quarter worth $104,000. Investors Capital Advisory Services raised its position in Dana by 0.9% during the second quarter. Investors Capital Advisory Services now owns 10,534 shares of the auto parts company’s stock worth $110,000 after acquiring an additional 92 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Dana during the third quarter worth $111,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Dana by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock worth $113,000 after acquiring an additional 520 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Dana during the second quarter worth $120,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
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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