Wells Fargo & Company Forecasts Strong Price Appreciation for Dana (NYSE:DAN) Stock

Key Points

• Wells Fargo & Company raised its price target for Dana (NYSE:DAN) from $19.00 to $22.00, indicating potential upside of 12.27% based on current prices.
• Several other analysts have also increased their ratings for Dana, with a consensus target price now set at $22.00, reflecting a general optimism among analysts.
• Despite these positive outlooks, Dana reported earnings per share of only $0.05 for the last quarter, missing estimates and reflecting a 5.5% year-over-year revenue decline.

Dana (NYSE:DAN - Get Free Report) had its price target increased by stock analysts at Wells Fargo & Company from $19.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's target price would indicate a potential upside of 12.27% from the company's current price.

Several other research firms also recently weighed in on DAN. UBS Group restated a "buy" rating and set a $23.00 price target (up previously from $22.00) on shares of Dana in a research report on Monday, July 14th. Royal Bank Of Canada increased their price target on shares of Dana from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Cfra Research raised shares of Dana from a "moderate sell" rating to a "hold" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. cut their price target on Dana from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Finally, Barclays reissued an "overweight" rating and issued a $25.00 price objective (up from $20.00) on shares of Dana in a research note on Thursday, June 12th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

Dana Trading Down 1.2%

DAN stock traded down $0.24 during mid-day trading on Thursday, reaching $19.60. The company had a trading volume of 92,240 shares, compared to its average volume of 1,894,615. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.36 and a quick ratio of 1.00. The company has a market capitalization of $2.57 billion, a PE ratio of -122.13, a price-to-earnings-growth ratio of 1.85 and a beta of 2.12. The firm has a 50 day moving average of $18.75 and a 200 day moving average of $16.31. Dana has a 12 month low of $7.58 and a 12 month high of $21.40.

Dana (NYSE:DAN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.94 billion for 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 quarter in the prior year, the business posted $0.31 earnings per share. On average, equities analysts predict that Dana will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Dana

In other news, CAO James D. Kellett sold 11,728 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $18.65, for a total value of $218,727.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Dana

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Dana by 1,495.0% in the 1st quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company's stock valued at $574,000 after purchasing an additional 40,394 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Dana by 3.8% during the 1st quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company's stock worth $599,000 after buying an additional 1,662 shares during the period. JB Capital Partners LP boosted its stake in Dana by 1.1% in 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. Great Lakes Advisors LLC raised its stake in 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 acquiring an additional 32,241 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Dana during the 1st quarter valued at about $2,434,000. 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.

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