Dana (DAN) Upgraded to “Buy” at Zacks Investment Research

Dana (NYSE:DAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $33.00 target price on the auto parts company’s stock. Zacks Investment Research‘s target price points to a potential upside of 7.56% 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 topic of several other reports. FBR & Co reissued a “neutral” rating and issued a $25.00 price objective (up from $17.00) on shares of Dana in a research report on Friday, October 27th. Barclays set a $28.00 price objective on shares of Dana and gave the company a “hold” rating in a research report on Friday, October 20th. ValuEngine lowered shares of Dana from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Deutsche Bank increased their price objective on shares of Dana from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, November 17th. Finally, UBS Group increased their price objective on shares of Dana from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.40.

Shares of Dana (NYSE DAN) traded up $0.83 on Tuesday, hitting $30.68. 2,495,708 shares of the stock traded hands, compared to its average volume of 1,310,000. The company has a market capitalization of $4,440.00, a price-to-earnings ratio of 6.43 and a beta of 1.66. Dana has a 52 week low of $17.53 and a 52 week high of $35.27. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.72 and a quick ratio of 1.17.

Dana declared that its board has approved a stock buyback plan on Wednesday, January 17th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, insider Aziz Aghili sold 12,624 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.12, for a total value of $418,106.88. Following the transaction, the insider now directly owns 18,024 shares in the company, valued at $596,954.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Kevin Kamsickas sold 57,003 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $31.01, for a total transaction of $1,767,663.03. Following the completion of the transaction, the chief executive officer now owns 96,312 shares in the company, valued at $2,986,635.12. The disclosure for this sale can be found here. Insiders sold 150,533 shares of company stock worth $4,873,626 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its position in shares of Dana by 113.4% during the 4th quarter. Alps Advisors Inc. now owns 40,292 shares of the auto parts company’s stock worth $1,290,000 after buying an additional 21,412 shares during the period. Aperio Group LLC raised its holdings in Dana by 51.2% in the fourth quarter. Aperio Group LLC now owns 126,436 shares of the auto parts company’s stock worth $4,047,000 after purchasing an additional 42,812 shares in the last quarter. Comerica Bank raised its holdings in Dana by 30.8% in the fourth quarter. Comerica Bank now owns 616,866 shares of the auto parts company’s stock worth $20,801,000 after purchasing an additional 145,242 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Dana by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,821,534 shares of the auto parts company’s stock worth $58,307,000 after purchasing an additional 14,169 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in Dana in the fourth quarter worth $1,462,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

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About Dana

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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