Dana (NYSE:DAN) Downgraded by Wells Fargo & Company

Wells Fargo & Company cut shares of Dana (NYSE:DAN) from an equal weight rating to an underweight rating in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage currently has $9.00 target price on the auto parts company’s stock, down from their previous target price of $13.00.

DAN has been the topic of several other reports. StockNews.com cut Dana from a buy rating to a hold rating in a report on Tuesday, September 10th. UBS Group reduced their price objective on Dana from $14.00 to $12.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Barclays increased their target price on Dana from $15.00 to $16.00 and gave the company an equal weight rating in a research report on Friday, August 2nd. Wolfe Research began coverage on shares of Dana in a research report on Thursday, September 5th. They issued a peer perform rating on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Dana from $18.00 to $17.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $14.00.

Dana Stock Down 5.7 %

Shares of DAN opened at $9.87 on Friday. Dana has a 12-month low of $9.16 and a 12-month high of $15.27. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $1.43 billion, a PE ratio of 109.67, a price-to-earnings-growth ratio of 0.49 and a beta of 2.29. The business’s 50 day moving average is $10.97 and its 200 day moving average is $12.11.

Dana (NYSE:DAN) last issued its earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.76 billion. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. Dana’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. Research analysts expect that Dana will post 0.98 earnings per share for the current fiscal year.

Dana Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a yield of 4.05%. Dana’s dividend payout ratio is presently 444.44%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Dana by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after purchasing an additional 5,468 shares during the period. SG Americas Securities LLC bought a new stake in Dana in the second quarter worth about $388,000. Finally, Cibc World Markets Corp boosted its position in shares of 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 valued at $17,386,000 after buying an additional 375,000 shares during the period. 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.