Dana (NYSE:DAN) Rating Increased to Moderate Buy at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Dana (NYSE:DAN - Free Report) from a hold rating to a moderate buy rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $20.00 price objective on the auto parts company's stock, up from their previous price objective of $14.00.

Several other research firms have also commented on DAN. Wall Street Zen upgraded Dana from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Barclays upped their price objective on Dana from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. UBS Group upped their price objective on Dana from $18.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on Dana from $14.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Finally, Wells Fargo & Company upped their price objective on Dana from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.57.

Dana Price Performance

Shares of Dana stock traded up $0.65 during trading hours on Thursday, reaching $17.07. 520,075 shares of the company's stock were exchanged, compared to its average volume of 1,698,343. Dana has a 1 year low of $7.58 and a 1 year high of $17.12. The company has a market capitalization of $2.49 billion, a P/E ratio of -43.75, a price-to-earnings-growth ratio of 0.72 and a beta of 2.07. The business has a fifty day moving average of $13.60 and a two-hundred day moving average of $13.15. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 1.71.

Dana (NYSE:DAN - Get Free Report) last announced 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). Dana had a negative net margin of 0.55% and a positive return on equity of 6.70%. The firm had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the prior year, the company posted $0.02 EPS. The company's revenue for the quarter was down 14.0% compared to the same quarter last year. As a group, research analysts predict that Dana will post 1.5 earnings per share for the current fiscal year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, May 31st. Shareholders of record on Saturday, May 10th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.34%. Dana's dividend payout ratio (DPR) is presently -166.67%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JB Capital Partners LP lifted its position in shares of Dana by 1.1% during the first quarter. JB Capital Partners LP now owns 1,852,293 shares of the auto parts company's stock worth $24,524,000 after purchasing an additional 20,000 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Dana by 1.9% during the fourth quarter. Russell Investments Group Ltd. now owns 936,143 shares of the auto parts company's stock worth $10,822,000 after purchasing an additional 17,569 shares in the last quarter. Loomis Sayles & Co. L P acquired a new stake in shares of Dana during the fourth quarter worth about $9,498,000. Cibc World Markets Corp lifted its position in shares of Dana by 1.8% during the fourth quarter. Cibc World Markets Corp now owns 687,220 shares of the auto parts company's stock worth $7,944,000 after purchasing an additional 12,220 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its position in shares of Dana by 11.5% during the first quarter. Great Lakes Advisors LLC now owns 313,039 shares of the auto parts company's stock worth $4,173,000 after purchasing an additional 32,241 shares in the last quarter. Hedge funds and other 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.