Buckingham Research Boosts Dana Incorporated (NYSE:DAN) Price Target to $25.00
Dana Incorporated (NYSE:DAN) had its target price increased by Buckingham Research from $23.00 to $25.00 in a report published on Wednesday. Buckingham Research currently has a neutral rating on the auto parts company’s stock.
Several other research firms have also weighed in on DAN. BidaskClub lowered Dana from a strong-buy rating to a buy rating in a research report on Friday, July 28th. Barclays PLC lowered Dana from an overweight rating to an equal weight rating and upped their price target for the company from $23.00 to $24.00 in a research report on Wednesday, July 19th. Guggenheim started coverage on Dana in a research report on Wednesday, June 21st. They set a buy rating and a $27.00 price target on the stock. Deutsche Bank AG reissued a buy rating and set a $23.00 price target (up from $22.00) on shares of Dana in a research report on Wednesday, May 3rd. Finally, UBS AG lowered Dana to a neutral rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $23.50.
Shares of Dana (NYSE DAN) opened at 24.25 on Wednesday. The firm has a 50-day moving average price of $22.79 and a 200-day moving average price of $20.41. Dana has a 52 week low of $12.79 and a 52 week high of $25.10. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 5.14 and a beta of 1.49.
Dana (NYSE:DAN) last posted its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.17. The firm had revenue of $18.40 million for the quarter, compared to analyst estimates of $1.67 billion. Dana had a return on equity of 30.79% and a net margin of 10.80%. Dana’s quarterly revenue was down 98.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. On average, equities analysts expect that Dana will post $2.31 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.99%. Dana’s dividend payout ratio (DPR) is currently 5.10%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Dana by 16,306.0% in the first quarter. BlackRock Inc. now owns 15,385,037 shares of the auto parts company’s stock worth $297,086,000 after buying an additional 15,291,260 shares during the period. Vanguard Group Inc. increased its position in shares of Dana by 4.7% in the first quarter. Vanguard Group Inc. now owns 11,731,080 shares of the auto parts company’s stock worth $226,527,000 after buying an additional 527,535 shares during the period. State Street Corp increased its stake in Dana by 5.3% in the first quarter. State Street Corp now owns 5,059,594 shares of the auto parts company’s stock valued at $97,700,000 after buying an additional 256,746 shares during the period. TCW Group Inc. increased its stake in Dana by 3.0% in the first quarter. TCW Group Inc. now owns 4,603,191 shares of the auto parts company’s stock valued at $88,888,000 after buying an additional 133,272 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Dana by 15.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,858,283 shares of the auto parts company’s stock valued at $74,502,000 after buying an additional 505,934 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.
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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