Dana (NYSE:DAN) Price Target Raised to $26.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada increased Dana's price target from $24.00 to $26.00, indicating a potential upside of 28.88% from the current price.
• Several other firms have also increased their ratings and price targets for Dana, with UBS setting a new target at $23.00 and Barclays at $25.00.
• Dana's recent quarterly earnings showed a disappointing performance, reporting an EPS of $0.05, missing estimates of $0.40, and a revenue decline of 5.5% year-over-year.

Dana (NYSE:DAN - Get Free Report) had its price target hoisted by Royal Bank Of Canada from $24.00 to $26.00 in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has an "outperform" rating on the auto parts company's stock. Royal Bank Of Canada's price objective suggests a potential upside of 26.14% from the stock's current price.

DAN has been the subject of several other research reports. Wells Fargo & Company reissued a "buy" rating on shares of Dana in a research note on Thursday, June 12th. UBS Group reissued a "buy" rating and issued a $23.00 price objective (up previously from $22.00) on shares of Dana in a research note on Monday, July 14th. Barclays reaffirmed an "overweight" rating and set a $25.00 price target (up previously from $20.00) on shares of Dana in a research note on Thursday, June 12th. Cfra Research raised shares of Dana from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Dana from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.29.

Dana Price Performance

NYSE:DAN traded down $0.06 on Tuesday, hitting $20.61. The company had a trading volume of 1,451,650 shares, compared to its average volume of 1,837,346. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -128.83, a PEG ratio of 1.91 and a beta of 2.12. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 2.02. The firm has a 50 day moving average of $17.90 and a two-hundred day moving average of $15.81. Dana has a 52 week low of $7.58 and a 52 week high of $20.92.

Dana (NYSE:DAN - Get Free Report) last issued 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). The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.55 billion. Dana had a negative net margin of 0.26% and a positive return on equity of 5.65%. Dana's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. On average, research analysts anticipate that Dana will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO James D. Kellett sold 11,728 shares of Dana stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dana

A number of hedge funds have recently bought and sold shares of the company. JB Capital Partners LP raised its stake in 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 buying an additional 20,000 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Dana by 4.2% during the second quarter. Loomis Sayles & Co. L P now owns 1,102,729 shares of the auto parts company's stock worth $18,912,000 after buying an additional 44,010 shares during the last quarter. Rhumbline Advisers grew its holdings in Dana by 2.2% in the second quarter. Rhumbline Advisers now owns 401,017 shares of the auto parts company's stock worth $6,877,000 after purchasing an additional 8,787 shares during the period. Great Lakes Advisors LLC grew its holdings in Dana by 11.5% in 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 during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in Dana by 6.4% in the second quarter. Segall Bryant & Hamill LLC now owns 194,338 shares of the auto parts company's stock worth $3,333,000 after purchasing an additional 11,711 shares during the period. 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.