Dana (NYSE:DAN) Price Target Cut to $20.00

Dana (NYSE:DAN) had its price objective reduced by research analysts at KeyCorp from $22.00 to $20.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the auto parts company’s stock. KeyCorp’s target price points to a potential upside of 34.95% from the stock’s previous close.

A number of other research firms have also recently weighed in on DAN. Credit Suisse Group started coverage on shares of Dana in a report on Wednesday, June 26th. They issued an “outperform” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded shares of Dana from a “sell” rating to a “hold” rating in a report on Monday, August 12th. ValuEngine cut shares of Dana from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, TheStreet cut shares of Dana from a “b-” rating to a “c+” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $20.90.

NYSE:DAN opened at $14.82 on Thursday. Dana has a fifty-two week low of $11.57 and a fifty-two week high of $21.17. The stock has a market capitalization of $2.10 billion, a P/E ratio of 4.99, a P/E/G ratio of 1.27 and a beta of 2.25. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.01 and a current ratio of 1.63. The company’s 50-day simple moving average is $14.32 and its 200-day simple moving average is $17.18.

Dana (NYSE:DAN) last released its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). Dana had a net margin of 2.67% and a return on equity of 29.55%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. On average, research analysts forecast that Dana will post 3.24 EPS for the current year.

In related news, EVP Mark E. Wallace sold 44,570 shares of Dana stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $13.41, for a total value of $597,683.70. Following the completion of the sale, the executive vice president now directly owns 145,431 shares in the company, valued at approximately $1,950,229.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of DAN. Resources Investment Advisors LLC. boosted its position in shares of Dana by 345.5% during the 2nd quarter. Resources Investment Advisors LLC. now owns 2,254 shares of the auto parts company’s stock valued at $45,000 after acquiring an additional 1,748 shares during the last quarter. Advisory Services Network LLC increased its stake in Dana by 357.8% in the second quarter. Advisory Services Network LLC now owns 2,280 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 1,782 shares during the last quarter. ARP Americas LP acquired a new stake in shares of Dana in the second quarter valued at approximately $203,000. Magnus Financial Group LLC lifted its holdings in shares of Dana by 9.3% during the first quarter. Magnus Financial Group LLC now owns 13,259 shares of the auto parts company’s stock worth $235,000 after purchasing an additional 1,126 shares during the period. Finally, Atria Investments LLC acquired a new stake in Dana in the second quarter valued at $239,000. 95.37% of the stock is owned by institutional investors.

About Dana

Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Drive and Motion Technologies, and Power Technologies.

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