Dana (NYSE:DAN) Downgraded by Wells Fargo & Company to Underweight

Dana (NYSE:DAN) was downgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a report released on Friday, Briefing.com reports. They currently have a $9.00 price target on the auto parts company’s stock, down from their prior price target of $13.00. Wells Fargo & Company‘s price target points to a potential downside of 13.83% from the company’s current price.

Several other research firms have also weighed in on DAN. Barclays increased their price objective on shares of Dana from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Dana from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $12.00 price objective on shares of Dana in a research note on Tuesday, September 10th. JPMorgan Chase & Co. dropped their price target on shares of Dana from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, UBS Group dropped their price target on shares of Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Dana currently has a consensus rating of “Hold” and an average price target of $14.00.

Dana Stock Performance

Shares of DAN stock opened at $10.45 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.90 and a current ratio of 1.48. Dana has a one year low of $9.16 and a one year high of $15.45. The company’s 50-day simple moving average is $11.01 and its 200-day simple moving average is $12.13. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 116.06, a PEG ratio of 0.49 and a beta of 2.29.

Dana (NYSE:DAN) last issued its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.24 by $0.07. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the company posted $0.37 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts anticipate that Dana will post 0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DAN. Cibc World Markets Corp increased its stake in shares of Dana by 46.0% during the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after acquiring an additional 375,000 shares during the period. SG Americas Securities LLC acquired a new position in shares of Dana during the second quarter valued at approximately $388,000. Finally, Rhumbline Advisers increased its stake in shares of Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after acquiring an additional 5,468 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.

About Dana

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.