Zacks Investment Research Lowers Dana Incorporated (NYSE:DAN) to Hold

Zacks Investment Research cut shares of Dana Incorporated (NYSE:DAN) from a strong-buy rating to a hold rating in a report issued on Tuesday, October 17th.

According to Zacks, “Dana Inc. is a provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies. It operates primarily in North America, South America, Europe and Asia pacific. Dana Inc., formerly known as Dana Holding Corporation, is headquartered in Maumee, Ohio. “

A number of other equities research analysts have also recently commented on the stock. CLSA assumed coverage on shares of Dana in a report on Thursday, June 22nd. They issued a buy rating and a $27.00 target price for the company. BidaskClub raised shares of Dana from a hold rating to a buy rating in a report on Saturday, July 1st. Guggenheim assumed coverage on shares of Dana in a report on Wednesday, June 21st. They issued a buy rating and a $27.00 target price for the company. Royal Bank Of Canada reaffirmed a buy rating and issued a $27.00 target price on shares of Dana in a report on Thursday, October 5th. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $26.00 target price (up from $24.00) on shares of Dana in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $27.00.

Dana (DAN) traded down $0.45 during trading hours on Tuesday, hitting $30.89. 376,639 shares of the company’s stock traded hands, compared to its average volume of 1,270,897. The firm has a market capitalization of $4,540.26, a P/E ratio of 12.59 and a beta of 1.64. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 1.36. Dana has a fifty-two week low of $14.53 and a fifty-two week high of $31.91.

Dana (NYSE:DAN) last issued its earnings results on Thursday, October 26th. The auto parts company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Dana had a net margin of 10.27% and a return on equity of 29.34%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 32.3% compared to the same quarter last year. research analysts expect that Dana will post 2.43 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.24 annualized dividend and a yield of 0.78%. Dana’s dividend payout ratio is currently 5.02%.

In other Dana news, Director Terrence J. Keating sold 2,321 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $29.62, for a total value of $68,748.02. Following the completion of the transaction, the director now directly owns 52,140 shares of the company’s stock, valued at $1,544,386.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Rodney R. Filcek sold 3,292 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $30.18, for a total transaction of $99,352.56. Following the completion of the transaction, the senior vice president now directly owns 50,251 shares of the company’s stock, valued at $1,516,575.18. The disclosure for this sale can be found here. Insiders have sold 59,759 shares of company stock valued at $1,773,750 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of DAN. BlackRock Inc. increased its holdings in Dana by 16,306.0% in the first quarter. BlackRock Inc. now owns 15,385,037 shares of the auto parts company’s stock valued at $297,086,000 after buying an additional 15,291,260 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Dana in the second quarter valued at about $41,249,000. Frontier Capital Management Co. LLC increased its holdings in Dana by 163.7% in the second quarter. Frontier Capital Management Co. LLC now owns 2,875,693 shares of the auto parts company’s stock valued at $64,214,000 after buying an additional 1,784,986 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Dana by 48.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,402,826 shares of the auto parts company’s stock valued at $65,709,000 after buying an additional 1,116,271 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Dana by 40.4% in the first quarter. AQR Capital Management LLC now owns 3,083,742 shares of the auto parts company’s stock valued at $59,547,000 after buying an additional 886,606 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Dana Company Profile

Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.

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