JPMorgan Chase & Co. Increases Dana (NYSE:DAN) Price Target to $26.00

Key Points

• JPMorgan Chase & Co. raised its price target on Dana (NYSE:DAN) from $24.00 to $26.00, indicating a potential upside of 34.65% from the stock's previous close.
• Other analysts have also provided positive outlooks, with Barclays increasing their target to $27.00 and UBS issuing a $23.00 target, while Zacks upgraded Dana to a "strong-buy" rating.
• Dana's recent quarterly earnings reported a revenue shortfall, with $1.94 billion reported compared to expectations of $2.55 billion and an earnings per share miss of ($0.35).

Dana (NYSE:DAN - Get Free Report) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $24.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the auto parts company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 34.65% from the stock's previous close.

DAN has been the topic of a number of other research reports. Barclays lifted their price target on shares of Dana from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, October 10th. UBS Group reaffirmed a "buy" rating and issued a $23.00 price target (up from $22.00) on shares of Dana in a research report on Monday, July 14th. Zacks Research upgraded Dana from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a "sell (d+)" rating on shares of Dana in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Dana from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Dana has an average rating of "Moderate Buy" and a consensus price target of $22.57.

Dana Price Performance

DAN stock traded up $0.42 on Monday, hitting $19.31. 1,711,824 shares of the company's stock traded hands, compared to its average volume of 1,907,004. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -120.68, a P/E/G ratio of 1.29 and a beta of 2.09. The stock has a fifty day moving average of $19.70 and a 200-day moving average of $16.96. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 2.02. Dana has a 1-year low of $7.58 and a 1-year high of $21.40.

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

Insider Transactions at Dana

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

Hedge Funds Weigh In On Dana

Several hedge funds have recently added to or reduced their stakes in DAN. FNY Investment Advisers LLC bought a new stake in shares of Dana during the second quarter worth approximately $25,000. Captrust Financial Advisors bought a new stake in Dana during the 2nd quarter worth about $176,000. Cornerstone Investment Partners LLC acquired a new position in shares of Dana during the 1st quarter worth approximately $146,000. State of Tennessee Department of Treasury raised its stake in shares of Dana by 10.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 55,842 shares of the auto parts company's stock worth $958,000 after purchasing an additional 5,405 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Dana by 27,790.5% in the 1st quarter. Jones Financial Companies Lllp now owns 85,345 shares of the auto parts company's stock valued at $1,138,000 after buying an additional 85,039 shares during the last quarter. Institutional investors own 96.79% of the company's stock.

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.

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