Dana Incorporated (NYSE:DAN) Downgraded by BidaskClub to Buy
BidaskClub downgraded shares of Dana Incorporated (NYSE:DAN) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning.
Other equities research analysts have also issued research reports about the stock. CLSA initiated coverage on shares of Dana in a research report on Thursday, June 22nd. They set a buy rating and a $27.00 price target for the company. 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 target for the company. Deutsche Bank AG reaffirmed a buy rating and set a $23.00 price target (up previously from $22.00) on shares of Dana in a research report on Wednesday, May 3rd. Zacks Investment Research raised shares of Dana from a hold rating to a buy rating and set a $21.00 target price for the company in a report on Tuesday, April 25th. Finally, Barclays PLC lowered shares of Dana from an overweight rating to an equal weight rating and increased their target price for the stock from $23.00 to $24.00 in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $22.22.
Dana (NYSE DAN) opened at 23.72 on Friday. The stock has a market cap of $3.43 billion, a P/E ratio of 5.17 and a beta of 1.48. Dana has a 1-year low of $12.79 and a 1-year high of $25.10. The stock has a 50 day moving average of $22.74 and a 200 day moving average of $20.38.
Dana (NYSE:DAN) last released its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s revenue for the quarter was down 98.8% compared to the same quarter last year. Equities analysts anticipate that Dana will post $1.98 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, August 9th. Dana’s dividend payout ratio is 5.22%.
In other Dana news, SVP Rodney R. Filcek sold 10,000 shares of the stock in a transaction that occurred on 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 directly owns 36,481 shares of the company’s stock, valued at approximately $742,388.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dwayne Matthews sold 6,667 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $20.13, for a total transaction of $134,206.71. Following the sale, the insider now directly owns 49,422 shares of the company’s stock, valued at $994,864.86. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Ledyard National Bank bought a new stake in shares of Dana during the first quarter worth about $168,000. US Bancorp DE raised its stake in shares of Dana by 15.0% in the first quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock worth $183,000 after buying an additional 1,233 shares during the period. World Asset Management Inc raised its stake in shares of Dana by 0.3% in the first quarter. World Asset Management Inc now owns 10,815 shares of the auto parts company’s stock worth $209,000 after buying an additional 37 shares during the period. Shelton Capital Management bought a new stake in shares of Dana during the first quarter worth about $210,000. Finally, Koch Industries Inc. bought a new stake in shares of Dana during the first quarter worth about $237,000. 97.36% of the stock is owned by institutional investors and hedge funds.
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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