Wells Fargo & Company Lowers Dana (NYSE:DAN) to Underweight

Wells Fargo & Company cut shares of Dana (NYSE:DAN) from an equal weight rating to an underweight rating in a report released on Friday, Marketbeat reports. They currently have $9.00 price objective on the auto parts company’s stock, down from their previous price objective of $13.00.

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

Dana Price Performance

Shares of NYSE:DAN opened at $9.87 on Friday. The business has a fifty day moving average price of $10.97 and a 200-day moving average price of $12.11. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.48 and a quick ratio of 0.90. The company has a market capitalization of $1.43 billion, a PE ratio of 109.67, a PEG ratio of 0.49 and a beta of 2.29. Dana has a 1-year low of $9.16 and a 1-year high of $15.27.

Dana (NYSE:DAN) last announced its quarterly earnings data 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. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the business earned $0.37 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities analysts expect that Dana will post 0.98 EPS for the current fiscal year.

Dana Announces Dividend

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

Hedge Funds Weigh In On Dana

Several institutional investors and hedge funds have recently bought and sold shares of DAN. SG Americas Securities LLC purchased a new stake in Dana in the second quarter worth about $388,000. Rhumbline Advisers grew 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 valued at $5,170,000 after acquiring an additional 5,468 shares during the period. Finally, Cibc World Markets Corp increased its holdings in Dana by 46.0% in the 4th quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after acquiring an additional 375,000 shares in the last quarter. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

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.