Royal Bank of Canada Issues Positive Forecast for Dana (NYSE:DAN) Stock Price

Dana (NYSE:DAN) had its price target increased by equities research analysts at Royal Bank of Canada from $13.00 to $16.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the auto parts company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 1.75% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Dana from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Dana from a “hold” rating to a “buy” rating and boosted their price target for the stock from $9.00 to $19.00 in a research report on Monday, December 9th. BNP Paribas upgraded shares of Dana from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $9.00 to $16.00 in a research report on Tuesday, December 3rd. Barclays boosted their price objective on shares of Dana from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company upgraded shares of Dana from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $10.00 to $16.00 in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Dana Stock Performance

NYSE DAN traded down $0.60 during trading hours on Friday, hitting $15.73. 794,970 shares of the company’s stock traded hands, compared to its average volume of 1,632,050. The business’s fifty day moving average price is $13.64 and its two-hundred day moving average price is $11.43. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $2.28 billion, a P/E ratio of -142.94, a P/E/G ratio of 0.73 and a beta of 2.33. Dana has a 52 week low of $7.58 and a 52 week high of $16.90.

Dana (NYSE:DAN) last announced its earnings results on Thursday, February 20th. The auto parts company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.15. Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.33 billion. Equities research analysts predict that Dana will post 0.84 EPS for the current year.

Institutional Trading of Dana

Several hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC purchased a new position in shares of Dana in the 3rd quarter valued at approximately $2,687,000. JB Capital Partners LP raised its position in shares of Dana by 9.9% in the 3rd quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock valued at $14,880,000 after purchasing an additional 128,000 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Dana by 118.3% in the 4th quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 1,464 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of Dana by 2.0% in the 4th quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company’s stock valued at $657,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Dana by 484.6% in the 4th quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 2,234 shares during the last quarter. 96.79% of the stock is 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.