Dana (NYSE:DAN) Price Target Raised to $23.00 at UBS Group

Dana (NYSE:DAN) had its target price hoisted by UBS Group from $22.00 to $23.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

A number of other research analysts have also issued reports on DAN. Wall Street Zen upgraded shares of Dana from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Wells Fargo & Company reissued a “buy” rating on shares of Dana in a report on Thursday, June 12th. 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. Finally, Barclays reiterated an “overweight” rating and set a $25.00 price target (up previously from $20.00) on shares of Dana in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.57.

Dana Trading Up 1.8%

NYSE DAN opened at $17.16 on Monday. The company’s fifty day simple moving average is $16.74 and its 200-day simple moving average is $14.70. Dana has a 52 week low of $7.58 and a 52 week high of $18.05. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 1.68. The stock has a market cap of $2.50 billion, a P/E ratio of -71.48, a PEG ratio of 1.08 and a beta of 2.09.

Dana (NYSE:DAN) last released its 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 business 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 0.35% and a positive return on equity of 7.96%. The firm’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. Equities research analysts predict that Dana will post 1.5 EPS for the current fiscal year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, May 31st. Shareholders of record on Saturday, May 10th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.33%. Dana’s payout ratio is presently -166.67%.

Hedge Funds Weigh In On Dana

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in Dana by 829.3% during the 4th quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company’s stock valued at $48,000 after acquiring an additional 3,732 shares during the period. Cornerstone Investment Partners LLC purchased a new stake in Dana in the 1st quarter worth approximately $146,000. GAMMA Investing LLC increased its holdings in Dana by 1,495.0% in the 1st quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company’s stock worth $574,000 after acquiring an additional 40,394 shares in the last quarter. SG Americas Securities LLC grew its holdings in Dana by 3.8% during the 1st quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company’s stock valued at $599,000 after buying an additional 1,662 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in Dana by 6.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company’s stock valued at $627,000 after buying an additional 3,368 shares in the last quarter. 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.