Dana Incorporated (DAN) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Dana Incorporated (NYSE:DAN) from a hold rating to a buy rating in a report released on Thursday morning. Zacks Investment Research currently has $26.00 target price on the auto parts company’s stock.
According to Zacks, “Dana Inc. is a provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies. It operates primarily in North America, South America, Europe and Asia pacific. Dana Inc., formerly known as Dana Holding Corporation, is headquartered in Maumee, Ohio. “
A number of other equities analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Dana from a hold rating to a buy rating in a research report on Saturday, July 1st. Deutsche Bank AG restated a buy rating and set a $23.00 price objective (up from $22.00) on shares of Dana in a research report on Wednesday, May 3rd. Guggenheim initiated coverage on shares of Dana in a research report on Wednesday, June 21st. They set a buy rating and a $27.00 price objective for the company. UBS AG cut shares of Dana to a neutral rating in a research report on Thursday, July 13th. Finally, Barclays PLC cut shares of Dana from an overweight rating to an equal weight rating and upped their price objective for the stock from $23.00 to $24.00 in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $22.22.
Dana (NYSE DAN) opened at 24.45 on Thursday. The stock has a market capitalization of $3.53 billion, a PE ratio of 5.32 and a beta of 1.48. Dana has a 1-year low of $12.79 and a 1-year high of $25.10. The company’s 50-day moving average is $22.70 and its 200 day moving average is $20.34.
Dana (NYSE:DAN) last posted its earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.17. Dana had a net margin of 11.02% and a return on equity of 31.55%. The firm had revenue of $18.40 million during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business posted $0.53 EPS. The business’s revenue was down 98.8% compared to the same quarter last year. Equities analysts predict that Dana will post $1.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, August 9th. Dana’s dividend payout ratio (DPR) is 5.22%.
In other news, insider Dwayne Matthews sold 6,667 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $20.13, for a total value of $134,206.71. Following the completion of the sale, the insider now directly owns 49,422 shares in the company, valued at $994,864.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rodney R. Filcek sold 10,000 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $20.35, for a total transaction of $203,500.00. Following the completion of the sale, the senior vice president now owns 36,481 shares of the company’s stock, valued at $742,388.35. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of DAN. FMR LLC acquired a new stake in shares of Dana during the fourth quarter worth approximately $2,401,000. Teachers Advisors LLC boosted its stake in shares of Dana by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 244,585 shares of the auto parts company’s stock worth $4,642,000 after buying an additional 5,623 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Dana by 2.8% in the first quarter. Capstone Asset Management Co. now owns 18,198 shares of the auto parts company’s stock worth $351,000 after buying an additional 490 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Dana by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 36,400 shares of the auto parts company’s stock worth $703,000 after buying an additional 800 shares during the period. Finally, DnB Asset Management AS boosted its stake in shares of Dana by 1.1% in the first quarter. DnB Asset Management AS now owns 2,988,315 shares of the auto parts company’s stock worth $57,704,000 after buying an additional 31,489 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.
Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
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