Dana’s (DAN) “Buy” Rating Reiterated at Royal Bank Of Canada
Dana Incorporated (NYSE:DAN)‘s stock had its “buy” rating reissued by Royal Bank Of Canada in a research note issued on Thursday. They currently have a $27.00 target price on the auto parts company’s stock. Royal Bank Of Canada’s price target would indicate a potential downside of 5.13% from the company’s previous close.
Other analysts have also recently issued reports about the company. BidaskClub cut Dana from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Dana from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, July 27th. Guggenheim started coverage on Dana in a report on Wednesday, June 21st. They set a “buy” rating and a $27.00 price target on the stock. CLSA started coverage on Dana in a report on Thursday, June 22nd. They set a “buy” rating and a $27.00 price target on the stock. Finally, Barclays PLC cut Dana from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $23.00 to $24.00 in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $23.80.
Dana (NYSE DAN) traded up 0.21% on Thursday, reaching $28.52. 94,637 shares of the company’s stock were exchanged. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 6.05 and a beta of 1.56. The stock’s 50 day moving average is $25.26 and its 200 day moving average is $22.16. Dana has a 52 week low of $13.93 and a 52 week high of $29.16.
Dana (NYSE:DAN) last released its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.17. The company had revenue of $18.40 million for the quarter, compared to analysts’ expectations of $1.67 billion. Dana had a return on equity of 30.79% and a net margin of 10.80%. The business’s quarterly revenue was down 98.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. On average, equities analysts anticipate that Dana will post $2.33 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of DAN. BlackRock Inc. lifted its stake in Dana by 16,306.0% in the first quarter. BlackRock Inc. now owns 15,385,037 shares of the auto parts company’s stock valued at $297,086,000 after buying an additional 15,291,260 shares during the period. Janus Henderson Group PLC acquired a new position in Dana in the second quarter valued at approximately $41,249,000. Frontier Capital Management Co. LLC lifted its stake in Dana by 163.7% in the second quarter. Frontier Capital Management Co. LLC now owns 2,875,693 shares of the auto parts company’s stock valued at $64,214,000 after buying an additional 1,784,986 shares during the period. Goldman Sachs Group Inc. lifted its stake in Dana by 48.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,402,826 shares of the auto parts company’s stock valued at $65,709,000 after buying an additional 1,116,271 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Dana by 40.4% in the first quarter. AQR Capital Management LLC now owns 3,083,742 shares of the auto parts company’s stock valued at $59,547,000 after buying an additional 886,606 shares during the period. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
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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