Dana (DAN) Rating Increased to Hold at Zacks Investment Research

Dana (NYSE:DAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Dana Inc. is a provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies. It operates primarily in North America, South America, Europe and Asia pacific. Dana Inc., formerly known as Dana Holding Corporation, is headquartered in Maumee, Ohio. “

A number of other brokerages also recently weighed in on DAN. JPMorgan Chase & Co. raised shares of Dana from a “neutral” rating to an “overweight” rating and set a $24.00 price target for the company in a report on Friday, October 19th. Bank of America downgraded shares of Dana from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a report on Thursday, October 18th. Stephens restated a “hold” rating and issued a $23.00 price objective on shares of Dana in a research note on Wednesday, August 1st. Wolfe Research upgraded shares of Dana from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada restated a “buy” rating and issued a $30.00 price objective on shares of Dana in a research note on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.80.



Dana stock traded up $0.70 during mid-day trading on Wednesday, reaching $15.57. The company had a trading volume of 2,974,853 shares, compared to its average volume of 1,626,931. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.63 and a quick ratio of 1.05. Dana has a 52 week low of $13.76 and a 52 week high of $35.27. The company has a market cap of $2.40 billion, a PE ratio of 6.18, a price-to-earnings-growth ratio of 3.87 and a beta of 1.68.

Dana (NYSE:DAN) last issued its quarterly earnings results on Monday, October 29th. The auto parts company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Dana had a net margin of 2.79% and a return on equity of 35.53%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.59 EPS. The business’s revenue was up 8.0% on a year-over-year basis. Analysts expect that Dana will post 2.94 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Zacks Investment Management raised its stake in shares of Dana by 9.3% in the 2nd quarter. Zacks Investment Management now owns 77,072 shares of the auto parts company’s stock valued at $1,556,000 after buying an additional 6,561 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Dana by 15.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,552,146 shares of the auto parts company’s stock worth $31,338,000 after purchasing an additional 204,738 shares in the last quarter. Royce & Associates LP increased its position in shares of Dana by 18.1% during the 2nd quarter. Royce & Associates LP now owns 1,076,242 shares of the auto parts company’s stock worth $21,729,000 after purchasing an additional 165,000 shares in the last quarter. Adams Diversified Equity Fund Inc. increased its position in shares of Dana by 43.2% during the 2nd quarter. Adams Diversified Equity Fund Inc. now owns 37,800 shares of the auto parts company’s stock worth $763,000 after purchasing an additional 11,400 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Dana by 7.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,027,760 shares of the auto parts company’s stock worth $26,475,000 after purchasing an additional 70,655 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

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 Driveline Technologies, and Power Technologies.

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