Wells Fargo & Company Lowers Dana (NYSE:DAN) Price Target to $12.00

Dana (NYSE:DAN) had its target price trimmed by Wells Fargo & Company from $13.00 to $12.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the auto parts company’s stock.

A number of other brokerages also recently issued reports on DAN. JPMorgan Chase & Co. reduced their price objective on shares of Dana from $19.00 to $18.00 and set an overweight rating on the stock in a research note on Monday, February 26th. Barclays reduced their price objective on shares of Dana from $16.00 to $15.00 and set an equal weight rating on the stock in a research note on Wednesday, February 28th. Finally, Oppenheimer increased their price objective on shares of Dana from $17.00 to $18.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $16.50.

Dana Price Performance

Shares of DAN opened at $12.58 on Tuesday. The firm has a market capitalization of $1.82 billion, a PE ratio of 139.79, a PEG ratio of 0.38 and a beta of 2.43. The company’s 50-day moving average is $13.22 and its 200-day moving average is $13.18. Dana has a fifty-two week low of $11.10 and a fifty-two week high of $19.75. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.60 and a quick ratio of 0.97.

Dana (NYSE:DAN) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Dana had a return on equity of 5.42% and a net margin of 0.12%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the prior year, the business posted $0.25 earnings per share. Dana’s revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that Dana will post 0.91 EPS for the current year.

Dana Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 10th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.18%. Dana’s payout ratio is currently 444.49%.

Institutional Investors Weigh In On Dana

A number of hedge funds have recently made changes to their positions in the stock. Cibc World Markets Corp boosted its stake in shares of Dana by 46.0% in the 4th quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after purchasing an additional 375,000 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in Dana by 164.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 284,582 shares of the auto parts company’s stock valued at $4,158,000 after buying an additional 176,778 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in Dana by 89.5% in the 4th quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock valued at $1,841,000 after buying an additional 59,502 shares during the last quarter. Neo Ivy Capital Management bought a new position in Dana in the 3rd quarter valued at approximately $1,602,000. Finally, Handelsbanken Fonder AB raised its holdings in Dana by 71.5% in the 4th quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company’s stock valued at $519,000 after buying an additional 14,800 shares during the last quarter. 96.79% of the stock is currently owned by institutional investors and hedge funds.

Dana Company Profile

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.