Dana (NYSE:DAN) Raised to “Equal Weight” at Wells Fargo & Company

Dana (NYSE:DAN) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm presently has a $16.00 price target on the auto parts company’s stock, up from their prior price target of $10.00. Wells Fargo & Company‘s price target points to a potential upside of 5.53% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Barclays upgraded Dana from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $12.00 to $18.00 in a research report on Monday, December 2nd. StockNews.com lowered shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. BNP Paribas upgraded shares of Dana from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $16.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. cut their price objective on Dana from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, UBS Group raised Dana from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $18.00 in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Dana Stock Performance

Dana stock opened at $15.16 on Monday. Dana has a fifty-two week low of $7.58 and a fifty-two week high of $16.11. The firm’s 50 day simple moving average is $11.53 and its 200-day simple moving average is $10.87. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.86. The company has a market cap of $2.20 billion, a P/E ratio of -137.82 and a beta of 2.31.

Dana (NYSE:DAN) last announced its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13). The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.57 billion. Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. Dana’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. As a group, equities research analysts predict that Dana will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Dana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Dana by 118.3% in the fourth quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 1,464 shares during the period. Versant Capital Management Inc increased its position in Dana by 484.6% in the 4th quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock worth $31,000 after buying an additional 2,234 shares during the period. Entropy Technologies LP acquired a new position in shares of Dana during the third quarter worth approximately $250,000. SG Americas Securities LLC boosted its position in shares of Dana by 81.8% in the third quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock valued at $615,000 after acquiring an additional 26,225 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in shares of Dana in the third quarter worth $346,000. 96.79% of the stock is currently owned by institutional investors and hedge funds.

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.