Dana (NYSE:DAN) has been given a $36.00 price objective by stock analysts at Guggenheim in a research note issued on Wednesday. The firm currently has a “buy” rating on the auto parts company’s stock. Guggenheim’s price objective would indicate a potential upside of 25.70% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Deutsche Bank boosted their price target on Dana from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, November 17th. Zacks Investment Research cut Dana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Barclays reiterated a “hold” rating and issued a $32.00 price target on shares of Dana in a research note on Tuesday, January 9th. Royal Bank of Canada reiterated a “buy” rating on shares of Dana in a research note on Friday, October 27th. Finally, ValuEngine cut Dana from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.55.
Shares of Dana (NYSE:DAN) traded down $0.29 on Wednesday, hitting $28.64. The company’s stock had a trading volume of 2,166,408 shares, compared to its average volume of 1,593,181. The firm has a market capitalization of $4,380.90, a PE ratio of 6.00 and a beta of 1.66. Dana has a 12 month low of $17.53 and a 12 month 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.
Dana announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 17th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, CEO James Kevin Kamsickas sold 57,003 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 96,312 shares of the company’s stock, valued at $2,986,635.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Virginia A. Kamsky sold 7,323 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $32.14, for a total value of $235,361.22. Following the completion of the sale, the director now directly owns 35,448 shares of the company’s stock, valued at $1,139,298.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,533 shares of company stock valued at $4,873,626. 1.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in DAN. Royal Bank of Canada increased its holdings in Dana by 47.3% in the second quarter. Royal Bank of Canada now owns 208,043 shares of the auto parts company’s stock valued at $4,646,000 after buying an additional 66,827 shares during the last quarter. State Street Corp increased its holdings in Dana by 3.3% in the second quarter. State Street Corp now owns 5,224,885 shares of the auto parts company’s stock valued at $116,673,000 after buying an additional 165,291 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Dana by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 56,136 shares of the auto parts company’s stock valued at $1,254,000 after purchasing an additional 805 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Dana during the third quarter valued at approximately $3,942,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Dana during the third quarter valued at approximately $1,040,000. 96.71% of the stock is owned by hedge funds and other institutional investors.
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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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