Dana (NYSE:DAN) Lowered to “Underweight” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Dana (NYSE:DAN) from an equal weight rating to an underweight rating in a research note released on Friday morning, Marketbeat.com reports. They currently have $9.00 price target on the auto parts company’s stock, down from their previous price target of $13.00.

Several other equities analysts have also recently commented on the stock. StockNews.com cut shares of Dana from a buy rating to a hold rating in a research note on Tuesday, September 10th. UBS Group cut their target price on Dana from $14.00 to $12.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $12.00 price target on shares of Dana in a research note on Tuesday, September 10th. Wolfe Research started coverage on Dana in a research note on Thursday, September 5th. They issued a peer perform rating on the stock. Finally, Barclays raised their target price on Dana from $15.00 to $16.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Dana presently has a consensus rating of Hold and a consensus target price of $14.00.

Dana Stock Performance

DAN opened at $10.17 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.90 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average is $10.93 and its 200-day moving average is $12.09. The stock has a market cap of $1.47 billion, a PE ratio of 112.94, a price-to-earnings-growth ratio of 0.49 and a beta of 2.29. Dana has a twelve month low of $9.16 and a twelve month high of $15.27.

Dana (NYSE:DAN) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.76 billion. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, analysts predict that Dana will post 0.98 earnings per share for the current year.

Dana Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 9th were paid a $0.10 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 3.94%. Dana’s dividend payout ratio is currently 444.44%.

Institutional Investors Weigh In On Dana

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in Dana by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after purchasing an additional 5,468 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Dana during the second quarter worth $388,000. Finally, Cibc World Markets Corp lifted its stake 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 valued at $17,386,000 after acquiring an additional 375,000 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.