Dana (NYSE:DAN) Price Target Raised to $24.00

Dana (NYSE:DAN - Get Free Report) had its price objective increased by equities research analysts at Royal Bank of Canada from $20.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the auto parts company's stock. Royal Bank of Canada's price target indicates a potential upside of 37.54% from the stock's current price.

Several other equities analysts also recently weighed in on DAN. Barclays raised their price target on Dana from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Thursday. Wells Fargo & Company raised their target price on Dana from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Thursday. UBS Group lifted their price target on shares of Dana from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded Dana from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.14.

Dana Trading Down 1.5%

NYSE:DAN traded down $0.26 during trading hours on Thursday, hitting $17.45. The company had a trading volume of 2,814,971 shares, compared to its average volume of 1,718,031. The stock has a 50-day moving average price of $14.52 and a 200 day moving average price of $13.86. The company has a market capitalization of $2.54 billion, a PE ratio of -44.74, a price-to-earnings-growth ratio of 0.72 and a beta of 2.11. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.45 and a quick ratio of 0.86. Dana has a 52 week low of $7.58 and a 52 week high of $18.67.

Dana (NYSE:DAN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The auto parts company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.28 billion. Dana had a negative net margin of 0.55% and a positive return on equity of 6.70%. The company's revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 earnings per share. On average, equities research analysts predict that Dana will post 1.5 EPS for the current fiscal year.

Institutional Trading of Dana

Hedge funds have recently modified their holdings of the company. JB Capital Partners LP raised its position in shares of Dana by 1.1% during the 1st quarter. JB Capital Partners LP now owns 1,852,293 shares of the auto parts company's stock valued at $24,524,000 after buying an additional 20,000 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Dana by 1.9% in 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 bought a new position in shares of Dana during the 4th quarter worth $9,498,000. Cibc World Markets Corp increased its position in Dana by 1.8% during the 4th quarter. Cibc World Markets Corp now owns 687,220 shares of the auto parts company's stock valued at $7,944,000 after purchasing an additional 12,220 shares during the period. Finally, Great Lakes Advisors LLC raised its stake 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 buying an additional 32,241 shares in the last quarter. 96.79% of the stock is owned by hedge funds and other institutional investors.

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.