Dana (NYSE:DAN) Upgraded to Buy by Bank of America
Bank of America upgraded shares of Dana (NYSE:DAN) from a neutral rating to a buy rating in a research report report published on Friday morning, BenzingaRatingsTable reports. The analysts noted that the move was a valuation call.
Several other analysts also recently weighed in on DAN. Zacks Investment Research upgraded Dana from a sell rating to a hold rating in a research note on Monday, August 12th. ValuEngine downgraded Dana from a sell rating to a strong sell rating in a research note on Thursday, August 1st. TheStreet downgraded Dana from a b- rating to a c+ rating in a research note on Tuesday, August 20th. Credit Suisse Group started coverage on Dana in a research note on Wednesday, June 26th. They set an outperform rating and a $22.00 target price for the company. Finally, UBS Group lowered their target price on Dana from $22.00 to $21.00 and set a buy rating for the company in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $21.10.
Shares of Dana stock opened at $15.32 on Friday. The business has a 50-day moving average of $13.98 and a 200-day moving average of $17.07. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.63 and a quick ratio of 1.01. The company has a market capitalization of $2.17 billion, a PE ratio of 5.16, a P/E/G ratio of 1.26 and a beta of 2.25. Dana has a 1-year low of $11.57 and a 1-year high of $21.17.
The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.40 annualized dividend and a dividend yield of 2.61%. Dana’s payout ratio is 13.47%.
In other news, EVP Mark E. Wallace sold 44,570 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $13.41, for a total transaction of $597,683.70. Following the transaction, the executive vice president now owns 145,431 shares of the company’s stock, valued at $1,950,229.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.
Several hedge funds have recently modified their holdings of DAN. Geode Capital Management LLC lifted its position in shares of Dana by 12.2% during the fourth quarter. Geode Capital Management LLC now owns 1,617,488 shares of the auto parts company’s stock worth $22,045,000 after purchasing an additional 175,414 shares during the last quarter. Bank of Montreal Can lifted its holdings in Dana by 657.7% in the first quarter. Bank of Montreal Can now owns 128,666 shares of the auto parts company’s stock worth $2,282,000 after acquiring an additional 111,684 shares during the last quarter. Rhumbline Advisers lifted its holdings in Dana by 1.0% in the first quarter. Rhumbline Advisers now owns 428,190 shares of the auto parts company’s stock worth $7,596,000 after acquiring an additional 4,197 shares during the last quarter. Texas Permanent School Fund lifted its holdings in Dana by 2.8% in the first quarter. Texas Permanent School Fund now owns 97,344 shares of the auto parts company’s stock worth $1,727,000 after acquiring an additional 2,678 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in Dana in the first quarter worth about $381,000. 95.01% of the stock is currently owned by institutional investors and hedge funds.
Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Drive and Motion Technologies, and Power Technologies.
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