Dana (NYSE:DAN) Upgraded by Cfra Research to Hold Rating

Key Points

• Cfra Research has upgraded Dana (NYSE:DAN) from a "moderate sell" to a "hold" rating, indicating a positive shift in the company's outlook.
• Royal Bank of Canada raised its price target for Dana shares to $24.00, reflecting increased confidence in the stock as multiple brokerages maintain "buy" ratings.
• Institutional investors own 96.79% of Dana’s shares, with notable recent activity including significant increases in stake by JB Capital Partners and Jones Financial Companies.

Cfra Research upgraded shares of Dana (NYSE:DAN - Free Report) from a moderate sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

DAN has been the topic of several other research reports. UBS Group reaffirmed a "buy" rating and set a $23.00 price objective (up previously from $22.00) on shares of Dana in a report on Monday, July 14th. Royal Bank Of Canada reissued an "outperform" rating and set a $24.00 target price (up from $20.00) on shares of Dana in a report on Thursday, June 12th. Wall Street Zen upgraded Dana from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Barclays reissued an "overweight" rating and set a $25.00 target price (up from $20.00) on shares of Dana in a report on Thursday, June 12th. Finally, Wells Fargo & Company restated a "buy" rating on shares of Dana in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Dana Stock Performance

Shares of NYSE:DAN traded up $0.28 during midday trading on Tuesday, hitting $17.82. The company's stock had a trading volume of 566,248 shares, compared to its average volume of 1,921,770. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -74.65, a PEG ratio of 2.52 and a beta of 2.14. The stock's 50 day simple moving average is $16.92 and its 200 day simple moving average is $15.32. Dana has a fifty-two week low of $7.58 and a fifty-two week high of $18.12. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.85 and a current ratio of 1.43.

Dana Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 8th. Dana's payout ratio is -166.67%.

Institutional Investors Weigh In On Dana

Several large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new stake in Dana during the 2nd quarter valued at $25,000. SG Americas Securities LLC lifted its position in Dana by 3.8% during the 1st quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company's stock worth $599,000 after acquiring an additional 1,662 shares during the period. State of Tennessee Department of Treasury raised its stake in shares of Dana by 6.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company's stock valued at $627,000 after buying an additional 3,368 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Dana by 829.3% in the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company's stock valued at $48,000 after purchasing an additional 3,732 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Dana by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 79,026 shares of the auto parts company's stock valued at $914,000 after buying an additional 4,531 shares in the last quarter. 96.79% of the stock is owned by institutional investors.

Dana Company Profile

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.