Wells Fargo & Company Forecasts Strong Price Appreciation for Dana (NYSE:DAN) Stock

Dana (NYSE:DAN) had its price target raised by research analysts at Wells Fargo & Company from $7.00 to $10.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 17.86% from the company’s current price.

Other research analysts have also issued research reports about the company. Barclays raised Dana from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $12.00 to $18.00 in a report on Monday, December 2nd. Wolfe Research began coverage on shares of Dana in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. StockNews.com downgraded shares of Dana from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised shares of Dana from a “hold” rating to a “buy” rating and upped their price target for the stock from $9.00 to $19.00 in a report on Monday, December 9th. Finally, BNP Paribas raised Dana from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $9.00 to $16.00 in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.29.

Dana Stock Performance

NYSE DAN opened at $12.18 on Monday. The company’s 50 day moving average is $10.09 and its 200-day moving average is $10.98. The firm has a market cap of $1.77 billion, a P/E ratio of -111.64, a price-to-earnings-growth ratio of 1.26 and a beta of 2.36. Dana has a 12-month low of $7.58 and a 12-month high of $15.07. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 1.58.

Dana (NYSE:DAN) last posted its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The company’s 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. Sell-side analysts predict that Dana will post 0.85 earnings per share for the current year.

Institutional Trading of Dana

Hedge funds and other institutional investors have recently bought and sold shares of the company. Martingale Asset Management L P purchased a new position in shares of Dana in the third quarter worth about $346,000. JB Capital Partners LP grew its position in Dana by 9.9% during the 3rd quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock worth $14,880,000 after acquiring an additional 128,000 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Dana in the 3rd quarter worth approximately $2,687,000. Entropy Technologies LP bought a new stake in Dana in the third quarter valued at approximately $250,000. Finally, SG Americas Securities LLC boosted its stake in shares of Dana by 81.8% during the third quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock valued at $615,000 after purchasing an additional 26,225 shares during the period. Hedge funds and other institutional investors 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.