Dana (NYSE:DAN) Given New $23.00 Price Target at JPMorgan Chase & Co.

Dana (NYSE:DAN - Get Free Report) had its price objective dropped by JPMorgan Chase & Co. from $24.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the auto parts company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 41.41% from the stock's previous close.

Several other research firms also recently weighed in on DAN. Wells Fargo & Company reiterated a "buy" rating on shares of Dana in a research 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $24.00 target price (up from $20.00) on shares of Dana in a research note on Thursday, June 12th. Barclays reissued an "overweight" rating and set a $25.00 price objective (up from $20.00) on shares of Dana in a research report on Thursday, June 12th. Finally, UBS Group restated a "buy" rating and set a $23.00 target price (up from $22.00) on shares of Dana in a report on Monday, July 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Dana Price Performance

Shares of NYSE DAN traded down $0.05 during mid-day trading on Monday, hitting $16.27. 1,656,682 shares of the stock were exchanged, compared to its average volume of 1,886,771. The company has a market cap of $2.37 billion, a P/E ratio of -67.77, a PEG ratio of 1.04 and a beta of 2.09. The stock's fifty day simple moving average is $16.93 and its two-hundred day simple moving average is $14.88. 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 has a twelve month low of $7.58 and a twelve month high of $18.05.

Dana (NYSE:DAN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The auto parts company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). Dana had a negative net margin of 0.35% and a positive return on equity of 7.96%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the company posted $0.02 EPS. The firm's quarterly revenue was down 14.0% on a year-over-year basis. As a group, analysts forecast that Dana will post 1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Dana

Several institutional investors have recently bought and sold shares of DAN. SG Americas Securities LLC lifted its position in shares of Dana by 3.8% during the first quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company's stock worth $599,000 after purchasing an additional 1,662 shares in the last quarter. State of Tennessee Department of Treasury increased its holdings in shares of Dana by 6.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company's stock valued at $627,000 after purchasing an additional 3,368 shares during the period. Sterling Capital Management LLC increased its stake in Dana by 829.3% in the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company's stock worth $48,000 after purchasing an additional 3,732 shares in the last quarter. MetLife Investment Management LLC increased its position in Dana by 6.1% in the 4th quarter. MetLife Investment Management LLC now owns 79,026 shares of the auto parts company's stock worth $914,000 after buying an additional 4,531 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new stake in Dana in the first quarter valued at $146,000. 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.