JPMorgan Chase & Co. Cuts Dana (NYSE:DAN) Price Target to $17.00

Dana (NYSE:DAN) had its price target reduced by JPMorgan Chase & Co. from $18.00 to $17.00 in a research report sent to investors on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the auto parts company’s stock.

A number of other research firms also recently weighed in on DAN. Oppenheimer lifted their price target on Dana from $17.00 to $18.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on Dana from $13.00 to $12.00 and set an equal weight rating for the company in a report on Tuesday, June 25th. Finally, UBS Group reduced their price objective on Dana from $14.00 to $12.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $15.50.

Dana Trading Down 1.3 %

Shares of DAN stock opened at $11.80 on Monday. The business’s 50 day moving average is $12.80 and its two-hundred day moving average is $12.83. Dana has a twelve month low of $11.10 and a twelve month high of $19.75. The company has a market capitalization of $1.71 billion, a P/E ratio of 131.07 and a beta of 2.33. The company has a current ratio of 1.60, a quick ratio of 0.97 and a debt-to-equity ratio of 1.61.

Dana (NYSE:DAN) last posted its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Dana had a net margin of 0.12% and a return on equity of 5.42%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that Dana will post 0.75 EPS for the current year.

Hedge Funds Weigh In On Dana

Several institutional investors have recently added to or reduced their stakes in the business. Cibc World Markets Corp increased its stake in Dana by 46.0% in the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after purchasing an additional 375,000 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in Dana by 164.0% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 284,582 shares of the auto parts company’s stock valued at $4,158,000 after purchasing an additional 176,778 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Dana by 89.5% in the fourth quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock valued at $1,841,000 after purchasing an additional 59,502 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Dana by 71.5% in the fourth quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company’s stock valued at $519,000 after purchasing an additional 14,800 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Dana in the second quarter valued at $388,000. 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.