Oppenheimer Increases Dana (NYSE:DAN) Price Target to $18.00

Dana (NYSE:DAN) had its price target raised by equities research analysts at Oppenheimer from $17.00 to $18.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the auto parts company’s stock. Oppenheimer’s price target suggests a potential upside of 35.14% from the stock’s previous close.

DAN has been the subject of several other research reports. Wells Fargo & Company dropped their price objective on shares of Dana from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 21st. Barclays dropped their price objective on shares of Dana from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Dana from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Dana presently has an average rating of “Hold” and an average price target of $16.67.

Dana Stock Performance

Shares of Dana stock opened at $13.32 on Wednesday. The company has a 50 day moving average of $12.35 and a 200-day moving average of $12.98. Dana has a 1-year low of $11.10 and a 1-year high of $19.75. The company has a current ratio of 1.60, a quick ratio of 0.93 and a debt-to-equity ratio of 1.61. The company has a market cap of $1.93 billion, a PE ratio of 148.02, a price-to-earnings-growth ratio of 0.47 and a beta of 2.46.

Dana (NYSE:DAN) last issued its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Dana had a return on equity of 5.42% and a net margin of 0.12%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the company posted $0.25 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Dana will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dana

Large investors have recently modified their holdings of the business. Strs Ohio increased its position in shares of Dana by 1.6% during the third quarter. Strs Ohio now owns 58,000 shares of the auto parts company’s stock worth $850,000 after buying an additional 900 shares during the period. Handelsbanken Fonder AB increased its position in shares of Dana by 71.5% during the fourth quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company’s stock worth $519,000 after buying an additional 14,800 shares during the period. Great Lakes Advisors LLC increased its position in shares of Dana by 93.6% during the third quarter. Great Lakes Advisors LLC now owns 66,513 shares of the auto parts company’s stock worth $976,000 after buying an additional 32,163 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Dana during the third quarter worth $567,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Dana during the third quarter worth $1,602,000. Institutional investors own 96.79% of the company’s stock.

Dana Company Profile

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.