Dana Incorporated (NYSE:DAN) Receives $21.00 Consensus PT from Analysts

Key Points

• Dana Incorporated has received a consensus recommendation of "Moderate Buy" from nine brokerages, with a 12-month target price averaging $21.00.
• Several large institutional investors have significantly increased their holdings in Dana, with one firm acquiring a stake worth approximately $2.43 million during the first quarter.
• The company recently declared a $0.10 quarterly dividend, reflecting a 2.3% yield, with payouts scheduled for August 29th, 2023.

Dana Incorporated (NYSE:DAN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $21.00.

DAN has been the subject of several recent analyst reports. Cfra Research upgraded Dana from a "moderate sell" rating to a "hold" rating in a report on Tuesday, August 5th. Wells Fargo & Company reiterated a "buy" rating on shares of Dana in a report on Thursday, June 12th. UBS Group reiterated a "buy" rating and set a $23.00 price objective (up from $22.00) on shares of Dana in a report on Monday, July 14th. Barclays reiterated an "overweight" rating and set a $25.00 price objective (up from $20.00) on shares of Dana in a report on Thursday, June 12th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $24.00 price objective (up from $20.00) on shares of Dana in a report on Thursday, June 12th.

Dana Trading Up 3.4%

NYSE DAN traded up $0.63 on Monday, reaching $19.30. The company had a trading volume of 1,675,327 shares, compared to its average volume of 1,942,823. The stock's 50 day moving average is $16.99 and its 200-day moving average is $15.36. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -120.78, a PEG ratio of 1.65 and a beta of 2.14. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 1.68. Dana has a 52 week low of $7.58 and a 52 week high of $19.33.

Dana (NYSE:DAN - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.35). Dana had a positive return on equity of 5.47% and a negative net margin of 0.26%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company earned $0.31 earnings per share. The firm's revenue was down 5.5% compared to the same quarter last year. Equities analysts predict that Dana will post 1.5 earnings per share for the current year.

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 paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.1%. Dana's dividend payout ratio (DPR) is -166.67%.

Hedge Funds Weigh In On Dana

Hedge funds 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 worth $25,000. Sterling Capital Management LLC lifted its holdings in Dana by 829.3% during the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company's stock worth $48,000 after buying an additional 3,732 shares during the period. Cornerstone Investment Partners LLC acquired a new position in Dana during the 1st quarter worth about $146,000. GAMMA Investing LLC lifted its holdings in 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 buying an additional 40,394 shares during the period. Finally, SG Americas Securities LLC lifted its holdings 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 buying an additional 1,662 shares during the period. Institutional investors own 96.79% of the company's stock.

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.