Dana (NYSE:DAN) Price Target Raised to $24.00

Dana (NYSE:DAN) had its price target raised by Royal Bank of Canada from $20.00 to $24.00 in a report released on Thursday,Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group raised their target price on shares of Dana from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Wall Street Zen raised Dana from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Wells Fargo & Company increased their price objective on shares of Dana from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Barclays boosted their target price on shares of Dana from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.43.

Dana Stock Performance

DAN opened at $17.19 on Thursday. Dana has a 12-month low of $7.58 and a 12-month high of $18.03. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -44.06, a PEG ratio of 0.72 and a beta of 2.11. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The company’s 50 day moving average is $14.65 and its 200 day moving average is $13.94.

Dana (NYSE:DAN) last issued its quarterly earnings data on Wednesday, April 30th. The auto parts company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.28 billion. Dana had a negative net margin of 0.55% and a positive return on equity of 6.70%. The company’s revenue was down 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. On average, equities research analysts predict that Dana will post 1.5 EPS for the current year.

Dana Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, May 31st. Investors of record on Saturday, May 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.33%. Dana’s dividend payout ratio is presently -166.67%.

Hedge Funds Weigh In On Dana

Institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC raised its position in shares of Dana by 829.3% during the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company’s stock valued at $48,000 after buying an additional 3,732 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of Dana in the 1st quarter worth about $146,000. GAMMA Investing LLC boosted its stake in shares of Dana by 1,495.0% during the 1st quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company’s stock worth $574,000 after purchasing an additional 40,394 shares during the period. SG Americas Securities LLC raised its position in Dana by 3.8% in the 1st quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company’s stock worth $599,000 after purchasing an additional 1,662 shares during the period. Finally, State of Tennessee Department of Treasury lifted its stake in Dana by 6.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company’s stock worth $627,000 after purchasing an additional 3,368 shares during the last quarter. 96.79% of the stock is owned by hedge funds and other 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.