Dana (NYSE:DAN) Raised to "Strong-Buy" at Zacks Research

Key Points

• Dana (NYSE:DAN) has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, signaling increased confidence among analysts.
• JPMorgan Chase & Co. lowered their price target for Dana from $24.00 to $23.00, while Royal Bank Of Canada and Barclays raised their targets to $26.00 and $27.00, respectively.
• The company's recent quarterly earnings reported an EPS of $0.05, missing estimates, alongside a 5.5% decline in revenue year-over-year.

Dana (NYSE:DAN - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on DAN. JPMorgan Chase & Co. lowered their price target on shares of Dana from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Royal Bank Of Canada raised their target price on shares of Dana from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Barclays upped their price target on Dana from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, October 10th. UBS Group reiterated a "buy" rating and set a $23.00 price objective (up previously from $22.00) on shares of Dana in a research report on Monday, July 14th. Finally, Cfra Research upgraded Dana from a "moderate sell" rating to a "hold" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.14.

Dana Price Performance

Shares of Dana stock opened at $18.91 on Tuesday. The stock has a market capitalization of $2.48 billion, a P/E ratio of -118.16, a PEG ratio of 1.27 and a beta of 2.09. The business has a 50 day simple moving average of $19.64 and a two-hundred day simple moving average of $16.83. Dana has a 12 month low of $7.58 and a 12 month high of $21.40. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.36 and a quick ratio of 1.00.

Dana (NYSE:DAN - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The auto parts company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.35). Dana had a negative net margin of 0.26% and a positive return on equity of 5.65%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the company posted $0.31 earnings per share. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts predict that Dana will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Dana news, CAO James D. Kellett sold 11,728 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $18.65, for a total value of $218,727.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Dana

Several large investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new stake in Dana in the second quarter valued at approximately $25,000. SG Americas Securities LLC grew its stake in shares of Dana by 3.8% in the first quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company's stock valued at $599,000 after buying an additional 1,662 shares in the last quarter. State of Tennessee Department of Treasury raised its holdings in shares of Dana by 10.7% in the 2nd quarter. State of Tennessee Department of Treasury now owns 55,842 shares of the auto parts company's stock valued at $958,000 after buying an additional 5,405 shares during the period. Rhumbline Advisers raised its holdings in shares of Dana by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 401,017 shares of the auto parts company's stock valued at $6,877,000 after buying an additional 8,787 shares during the period. Finally, Captrust Financial Advisors acquired a new position in Dana during the 2nd quarter worth about $176,000. 96.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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