JPMorgan Chase & Co. Cuts Dana (NYSE:DAN) Price Target to $17.00

Dana (NYSE:DAN) had its price target lowered by JPMorgan Chase & Co. from $18.00 to $17.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the auto parts company’s stock.

Several other equities analysts have also recently issued reports on the company. UBS Group decreased their price target on Dana from $14.00 to $12.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Oppenheimer raised their price target on Dana from $17.00 to $18.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company decreased their price target on Dana from $13.00 to $12.00 and set an equal weight rating on the stock in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $15.50.

Dana Price Performance

Shares of DAN stock opened at $11.80 on Monday. The stock’s fifty day moving average is $12.80 and its 200-day moving average is $12.83. The stock has a market capitalization of $1.71 billion, a PE ratio of 131.07 and a beta of 2.33. Dana has a 52 week low of $11.10 and a 52 week high of $19.75. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.97 and a current ratio of 1.60.

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

Hedge Funds Weigh In On Dana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp boosted its holdings in Dana by 46.0% during the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after buying an additional 375,000 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its position in shares of Dana by 164.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 284,582 shares of the auto parts company’s stock worth $4,158,000 after purchasing an additional 176,778 shares during the period. Great Lakes Advisors LLC raised its position in shares of Dana by 89.5% during the fourth quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock worth $1,841,000 after purchasing an additional 59,502 shares during the period. Handelsbanken Fonder AB raised 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 purchasing an additional 14,800 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Dana during the second quarter worth about $388,000. Institutional investors own 96.79% of the company’s stock.

About Dana

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.