StockNews.com Downgrades Dana (NYSE:DAN) to Hold

StockNews.com downgraded shares of Dana (NYSE:DAN) from a buy rating to a hold rating in a research report report published on Tuesday.

A number of other analysts have also recently weighed in on DAN. UBS Group cut their price objective on shares of Dana from $14.00 to $12.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reissued a hold rating and set a $12.00 price objective on shares of Dana in a report on Tuesday. Barclays raised their price objective on shares of Dana from $15.00 to $16.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Dana from $18.00 to $17.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Finally, Wolfe Research assumed coverage on shares of Dana in a report on Thursday, September 5th. They set a peer perform rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Dana has an average rating of Hold and an average target price of $14.67.

Dana Stock Up 5.5 %

Shares of NYSE:DAN opened at $9.85 on Tuesday. The firm’s 50 day moving average price is $11.15 and its 200 day moving average price is $12.21. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 109.46, a price-to-earnings-growth ratio of 0.49 and a beta of 2.29. Dana has a fifty-two week low of $9.16 and a fifty-two week high of $15.45. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55.

Dana (NYSE:DAN) last issued its earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. As a group, equities research analysts predict that Dana will post 0.98 earnings per share for the current fiscal year.

Dana Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 9th were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.06%. Dana’s dividend payout ratio (DPR) is presently 444.49%.

Hedge Funds Weigh In On Dana

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Dana during the second quarter worth approximately $388,000. Great Lakes Advisors LLC grew its position in shares of Dana by 89.5% during the fourth quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock worth $1,841,000 after acquiring an additional 59,502 shares during the last quarter. Rhumbline Advisers grew its position in shares of Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after acquiring an additional 5,468 shares during the last quarter. Finally, Cibc World Markets Corp grew its position in shares of Dana by 46.0% during the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after acquiring an additional 375,000 shares during the last quarter. 96.79% of the stock is currently 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.