Zacks Investment Research Upgrades Dana (DAN) to “Hold”

Zacks Investment Research upgraded shares of Dana (NYSE:DAN) from a sell rating to a hold rating in a research report report published on Wednesday.

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. “

Other research analysts have also issued research reports about the stock. Buckingham Research lowered their target price on shares of Dana from $26.00 to $22.00 and set a neutral rating for the company in a research note on Thursday, July 26th. Stephens reaffirmed a hold rating and set a $23.00 target price on shares of Dana in a research note on Wednesday, August 1st. TheStreet cut shares of Dana from a b- rating to a c rating in a research report on Monday, October 29th. Royal Bank of Canada reissued a buy rating and set a $21.00 price target on shares of Dana in a research report on Monday, October 29th. Finally, Wolfe Research initiated coverage on shares of Dana in a research report on Tuesday, October 2nd. They set a peer perform rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $25.80.

DAN stock traded down $0.04 during mid-day trading on Wednesday, hitting $15.72. 3,541,835 shares of the company were exchanged, compared to its average volume of 2,118,346. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.65 and a quick ratio of 1.05. The firm has a market cap of $2.25 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 1.70 and a beta of 1.88. Dana has a 12-month low of $13.76 and a 12-month high of $35.27.

Dana (NYSE:DAN) last announced its earnings results on Monday, October 29th. The auto parts company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. Dana had a net margin of 2.79% and a return on equity of 34.30%. Dana’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. Sell-side analysts anticipate that Dana will post 2.93 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 9th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.54%. Dana’s dividend payout ratio is presently 15.87%.

Several institutional investors and hedge funds have recently modified their holdings of DAN. BlackRock Inc. lifted its position in shares of Dana by 12.1% during the second quarter. BlackRock Inc. now owns 18,788,509 shares of the auto parts company’s stock worth $379,339,000 after purchasing an additional 2,022,490 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Dana by 286.8% in the second quarter. Renaissance Technologies LLC now owns 1,032,300 shares of the auto parts company’s stock valued at $20,842,000 after acquiring an additional 765,400 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in Dana by 10.7% in the third quarter. Wedge Capital Management L L P NC now owns 6,404,004 shares of the auto parts company’s stock valued at $119,563,000 after acquiring an additional 616,595 shares in the last quarter. LSV Asset Management raised its holdings in Dana by 21.8% in the second quarter. LSV Asset Management now owns 2,303,746 shares of the auto parts company’s stock valued at $46,512,000 after acquiring an additional 411,821 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in Dana by 36,524.9% in the second quarter. Systematic Financial Management LP now owns 329,624 shares of the auto parts company’s stock valued at $6,655,000 after acquiring an additional 328,724 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Dana Company Profile

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 Driveline Technologies, and Power Technologies.

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