Dana (NYSE:DAN) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $37.00 to $35.00 in a report released on Wednesday. The firm presently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 22.38% from the stock’s current price.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Dana from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Tuesday, February 6th. Guggenheim reiterated a “buy” rating and issued a $40.00 price target on shares of Dana in a report on Wednesday, January 10th. Barclays reiterated a “hold” rating and issued a $32.00 price target on shares of Dana in a report on Tuesday, January 9th. ValuEngine downgraded Dana from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, Deutsche Bank increased their price target on Dana from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $29.55.
Shares of Dana (NYSE:DAN) traded down $0.33 during mid-day trading on Wednesday, reaching $28.60. The company’s stock had a trading volume of 2,424,925 shares, compared to its average volume of 1,622,643. Dana has a fifty-two week low of $17.53 and a fifty-two week high of $35.27. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market capitalization of $4,380.90, a P/E ratio of 5.98 and a beta of 1.66.
Dana declared that its board has approved a stock repurchase program on Wednesday, January 17th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
In other Dana news, insider Dwayne Matthews sold 33,244 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $33.22, for a total transaction of $1,104,365.68. Following the transaction, the insider now directly owns 65,267 shares in the company, valued at approximately $2,168,169.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Kevin Kamsickas sold 57,003 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $31.01, for a total value of $1,767,663.03. Following 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 have sold a total of 150,533 shares of company stock worth $4,873,626 over the last 90 days. 1.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in Dana by 47.3% during the 2nd quarter. Royal Bank of Canada now owns 208,043 shares of the auto parts company’s stock worth $4,646,000 after purchasing an additional 66,827 shares during the period. Mackenzie Financial Corp increased its holdings in Dana by 458.2% during the 3rd quarter. Mackenzie Financial Corp now owns 350,010 shares of the auto parts company’s stock worth $9,786,000 after purchasing an additional 287,310 shares during the period. JPMorgan Chase & Co. increased its holdings in Dana by 8.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,506,002 shares of the auto parts company’s stock worth $42,198,000 after purchasing an additional 117,044 shares during the period. Blue Rock Advisors LLC purchased a new position in Dana during the 3rd quarter worth $983,000. Finally, Legal & General Group Plc increased its holdings in Dana by 6.9% during the 3rd quarter. Legal & General Group Plc now owns 250,426 shares of the auto parts company’s stock worth $7,001,000 after purchasing an additional 16,060 shares during the period. Institutional investors own 96.71% of the company’s stock.
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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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