Oppenheimer Raises Dana (NYSE:DAN) Price Target to $18.00

Dana (NYSE:DAN) had its target price boosted by Oppenheimer from $17.00 to $18.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the auto parts company’s stock.

DAN has been the topic of several other reports. Wells Fargo & Company reduced their price objective on Dana from $14.00 to $13.00 and set an equal weight rating on the stock in a research report on Wednesday, February 21st. Barclays decreased their price target on shares of Dana from $16.00 to $15.00 and set an equal weight rating on the stock in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Dana from $19.00 to $18.00 and set an overweight rating for the company in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dana presently has an average rating of Hold and an average price target of $16.67.

Dana Stock Down 0.1 %

Shares of NYSE DAN opened at $13.31 on Wednesday. Dana has a 52-week low of $11.10 and a 52-week high of $19.75. The business’s 50 day moving average is $12.37 and its two-hundred day moving average is $12.98. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 147.91, a PEG ratio of 0.42 and a beta of 2.46. The company has a quick ratio of 0.93, a current ratio of 1.60 and a debt-to-equity ratio of 1.61.

Dana (NYSE:DAN) last announced its quarterly earnings data on Tuesday, April 30th. The auto parts company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Dana had a net margin of 0.12% and a return on equity of 5.42%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts predict that Dana will post 0.91 EPS for the current year.

Dana Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.40 annualized dividend and a yield of 3.01%. Dana’s dividend payout ratio is presently 444.49%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DAN. Handelsbanken Fonder AB lifted its holdings in shares of Dana by 71.5% during the fourth quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company’s stock valued at $519,000 after acquiring an additional 14,800 shares during the period. SG Americas Securities LLC acquired a new position in Dana in the third quarter valued at about $567,000. Strs Ohio grew its stake in Dana by 1.6% during the third quarter. Strs Ohio now owns 58,000 shares of the auto parts company’s stock worth $850,000 after buying an additional 900 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Dana by 93.6% during the third quarter. Great Lakes Advisors LLC now owns 66,513 shares of the auto parts company’s stock worth $976,000 after buying an additional 32,163 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Dana in the third quarter valued at approximately $1,602,000. 96.79% of the stock is owned by institutional investors and hedge funds.

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.