Dana (NYSE:DAN) Price Target Lowered to $7.00 at Wells Fargo & Company

Dana (NYSE:DAN) had its price target decreased by Wells Fargo & Company from $9.00 to $7.00 in a report released on Thursday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the auto parts company’s stock.

DAN has been the subject of several other reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $12.00 price objective on shares of Dana in a research note on Tuesday, September 10th. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on shares of Dana from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Wolfe Research started coverage on shares of Dana in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, UBS Group decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.83.

Dana Trading Up 3.1 %

NYSE:DAN opened at $7.91 on Thursday. Dana has a twelve month low of $7.63 and a twelve month high of $15.07. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.90. The company’s 50 day moving average is $10.37 and its two-hundred day moving average is $11.71.

Dana (NYSE:DAN) last released its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. On average, sell-side analysts expect that Dana will post 0.87 EPS for the current fiscal year.

Dana Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Friday, November 8th. Dana’s dividend payout ratio is currently -363.60%.

Hedge Funds Weigh In On Dana

A hedge fund recently bought a new stake in Dana stock. SG Americas Securities LLC purchased a new position in Dana Incorporated (NYSE:DAN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 32,049 shares of the auto parts company’s stock, valued at approximately $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.