Dana Inc (NYSE:DAN) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 3,810,000 shares, a decline of 15.7% from the January 15th total of 4,520,000 shares. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 2.7% of the shares of the stock are short sold.
A number of brokerages recently issued reports on DAN. Royal Bank of Canada restated a “buy” rating and issued a $21.00 target price on shares of Dana in a report on Sunday, December 22nd. Zacks Investment Research upgraded Dana from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. TheStreet cut Dana from a “b-” rating to a “c+” rating in a report on Monday, February 3rd. KeyCorp lifted their target price on Dana from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Oppenheimer assumed coverage on Dana in a research report on Tuesday, November 19th. They issued an “outperform” rating and a $20.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Dana presently has an average rating of “Buy” and a consensus price target of $21.13.
Institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC lifted its position in shares of Dana by 78.1% in the fourth quarter. Cubist Systematic Strategies LLC now owns 24,190 shares of the auto parts company’s stock worth $440,000 after buying an additional 10,606 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Dana by 198.9% in the fourth quarter. Jane Street Group LLC now owns 51,067 shares of the auto parts company’s stock worth $929,000 after buying an additional 33,983 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Dana by 52.6% in the fourth quarter. Bank of America Corp DE now owns 1,768,025 shares of the auto parts company’s stock worth $32,177,000 after buying an additional 609,727 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Dana in the fourth quarter worth about $11,783,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Dana by 16.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,698,358 shares of the auto parts company’s stock worth $67,311,000 after buying an additional 521,039 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.
Shares of Dana stock traded down $0.35 during midday trading on Friday, hitting $17.56. The company’s stock had a trading volume of 1,428,000 shares, compared to its average volume of 1,422,094. The firm has a market capitalization of $2.23 billion, a P/E ratio of 10.51, a PEG ratio of 1.13 and a beta of 2.29. The stock has a 50-day simple moving average of $16.80 and a 200-day simple moving average of $15.87. The company has a quick ratio of 1.03, a current ratio of 1.64 and a debt-to-equity ratio of 1.32. Dana has a 1-year low of $11.57 and a 1-year high of $20.96.
Dana (NYSE:DAN) last issued its earnings results on Thursday, February 13th. The auto parts company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Dana had a return on equity of 26.97% and a net margin of 2.80%. Dana’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. As a group, sell-side analysts predict that Dana will post 3.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, February 28th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. Dana’s dividend payout ratio (DPR) is presently 13.47%.
Dana Company Profile
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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