Wells Fargo & Company Cuts Dana (NYSE:DAN) Price Target to $7.00

Dana (NYSE:DAN) had its target price cut by Wells Fargo & Company from $9.00 to $7.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an underweight rating on the auto parts company’s stock.

DAN has been the subject of a number of other research reports. UBS Group cut their target price on shares of Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Barclays cut their price objective on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $12.00 target price on shares of Dana in a report on Tuesday, September 10th. Wolfe Research assumed coverage on Dana in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One equities 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 company. Based on data from MarketBeat, Dana has a consensus rating of “Hold” and a consensus target price of $12.83.

Dana Trading Up 3.1 %

Shares of DAN stock opened at $7.91 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 1.58. The firm has a market cap of $1.15 billion, a P/E ratio of -71.91, a PEG ratio of 0.50 and a beta of 2.31. The company has a 50 day moving average of $10.37 and a 200-day moving average of $11.70. Dana has a 12-month low of $7.63 and a 12-month high of $15.07.

Dana (NYSE:DAN) last released its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Dana will post 0.87 earnings per share for the current year.

Dana Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s dividend payout ratio is -363.64%.

Hedge Funds Weigh In On Dana

A hedge fund recently raised its stake in Dana stock. Rhumbline Advisers boosted its stake in Dana Incorporated (NYSE:DAN) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,586 shares of the auto parts company’s stock after purchasing an additional 5,468 shares during the quarter. Rhumbline Advisers owned about 0.29% of Dana worth $5,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 96.79% of the stock is owned by institutional investors.

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.