Dana (NYSE:DAN) Cut to Hold at StockNews.com

StockNews.com lowered shares of Dana (NYSE:DAN) from a buy rating to a hold rating in a research report released on Tuesday morning.

Other equities analysts have also recently issued reports about the company. Barclays lifted their price target 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 dropped their price target on shares of Dana from $14.00 to $12.00 and set a neutral rating on the stock in a research report 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. Wolfe Research started coverage on shares of Dana in a report on Thursday, September 5th. They issued a peer perform rating on the stock. Finally, 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 note on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $14.67.

Dana Price Performance

NYSE DAN opened at $9.34 on Tuesday. The company has a 50-day moving average price of $11.20 and a two-hundred day moving average price of $12.23. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 103.78 and a beta of 2.29. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55. Dana has a 52 week low of $9.16 and a 52 week high of $15.90.

Dana (NYSE:DAN) last issued its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.76 billion. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. Analysts forecast that Dana will post 0.9 EPS for the current year.

Dana Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Friday, August 9th. Dana’s dividend payout ratio is presently 444.44%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cibc World Markets Corp lifted its position in shares of 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 valued at $17,386,000 after acquiring an additional 375,000 shares in the last quarter. Great Lakes Advisors LLC raised its stake in Dana by 89.5% during the 4th quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock valued at $1,841,000 after purchasing an additional 59,502 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Dana in the second quarter valued at $388,000. Finally, Rhumbline Advisers boosted its position in shares of Dana by 1.3% in the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after buying an additional 5,468 shares during the period. 96.79% of the stock is owned by hedge funds and other institutional investors.

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.