JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Dana (NYSE:DAN) Stock

Dana (NYSE:DAN) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $14.00 to $20.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 23.72% from the stock’s current price.

Several other research firms have also commented on DAN. StockNews.com lowered shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Barclays raised Dana from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $12.00 to $18.00 in a research note on Monday, December 2nd. UBS Group raised their target price on Dana from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday. BNP Paribas upgraded shares of Dana from a “neutral” rating to an “outperform” rating and upped their price target for the company from $9.00 to $16.00 in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company raised shares of Dana from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $10.00 to $16.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Dana Stock Up 3.4 %

Dana stock opened at $16.17 on Monday. The company has a 50-day simple moving average of $11.85 and a 200-day simple moving average of $10.92. The firm has a market capitalization of $2.34 billion, a P/E ratio of -146.94 and a beta of 2.31. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.86 and a current ratio of 1.49. Dana has a one year low of $7.58 and a one year high of $16.21.

Dana (NYSE:DAN) last announced 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). The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. As a group, equities analysts expect that Dana will post 0.85 earnings per share for the current year.

Institutional Trading of Dana

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Dana by 118.3% during the 4th quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 1,464 shares during the period. Versant Capital Management Inc boosted its stake in Dana by 484.6% in the fourth quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock valued at $31,000 after acquiring an additional 2,234 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Dana during the 3rd quarter valued at $250,000. Martingale Asset Management L P bought a new position in shares of Dana in the 3rd quarter worth $346,000. Finally, SG Americas Securities LLC lifted its stake in Dana by 81.8% in the third quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock valued at $615,000 after buying an additional 26,225 shares during the period. 96.79% of the stock is currently owned by institutional investors and hedge funds.

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.