Dana (DAN) Rating Reiterated by Barclays
Dana (NYSE:DAN)‘s stock had its “buy” rating reissued by analysts at Barclays in a report issued on Wednesday. They presently have a $24.00 target price on the auto parts company’s stock. Barclays‘s target price would suggest a potential upside of 32.96% from the stock’s previous close.
The analysts wrote, “We provide our key takes from the event below and reiterate our OW rating and $24 PT. Dana remains an interesting value play in autos as it continues to transform itself.””
Several other analysts also recently weighed in on DAN. KeyCorp initiated coverage on Dana in a research report on Monday, December 10th. They set an “overweight” rating and a $18.00 target price for the company. Deutsche Bank initiated coverage on Dana in a research report on Thursday, December 13th. They set a “buy” rating for the company. Zacks Investment Research downgraded Dana from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. UBS Group upgraded Dana from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Friday, January 4th. Finally, Stephens restated a “hold” rating and issued a $16.00 price objective on shares of Dana in a report on Sunday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Dana has a consensus rating of “Hold” and a consensus target price of $22.09.
Dana (NYSE:DAN) last released its earnings results on Friday, February 15th. The auto parts company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. Dana had a return on equity of 33.01% and a net margin of 5.24%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts predict that Dana will post 3.28 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in DAN. Norges Bank bought a new stake in shares of Dana in the fourth quarter valued at about $30,517,000. Frontier Capital Management Co. LLC raised its holdings in Dana by 117.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,814,475 shares of the auto parts company’s stock worth $38,361,000 after purchasing an additional 1,520,977 shares in the last quarter. First Pacific Advisors LP bought a new position in Dana in the third quarter worth about $19,414,000. Precision Path Capital LP raised its holdings in Dana by 270.3% in the fourth quarter. Precision Path Capital LP now owns 1,370,000 shares of the auto parts company’s stock worth $18,673,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Dana by 150.9% in the fourth quarter. Two Sigma Investments LP now owns 1,384,880 shares of the auto parts company’s stock worth $18,876,000 after purchasing an additional 832,815 shares in the last quarter. Hedge funds and other institutional investors own 94.25% of the company’s stock.
Dana Company Profile
Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Drive and Motion Technologies, and Power Technologies.
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