Zacks Investment Research Downgrades Dana Incorporated (DAN) to Hold
Dana Incorporated (NYSE:DAN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Several other brokerages also recently weighed in on DAN. BidaskClub downgraded Dana from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Barclays PLC downgraded Dana from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $23.00 to $24.00 in a report on Wednesday, July 19th. Guggenheim initiated coverage on Dana in a report on Wednesday, June 21st. They issued a “buy” rating and a $27.00 price target on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $27.00 price target on shares of Dana in a report on Thursday, October 5th. Finally, UBS AG downgraded Dana to a “neutral” rating in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Dana presently has a consensus rating of “Hold” and an average target price of $23.80.
Shares of Dana (DAN) opened at 29.07 on Tuesday. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 6.17 and a beta of 1.56. Dana has a 12 month low of $14.53 and a 12 month high of $29.19. The stock has a 50 day moving average price of $26.88 and a 200-day moving average price of $22.88.
Dana (NYSE:DAN) last issued its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.17. Dana had a return on equity of 30.79% and a net margin of 10.80%. The firm had revenue of $18.40 million for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was down 98.8% on a year-over-year basis. Analysts expect that Dana will post $2.34 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAN. BlackRock Inc. increased its holdings in Dana by 16,306.0% during the 1st quarter. BlackRock Inc. now owns 15,385,037 shares of the auto parts company’s stock worth $297,086,000 after purchasing an additional 15,291,260 shares during the period. Janus Henderson Group PLC bought a new stake in Dana during the 2nd quarter valued at $41,249,000. Frontier Capital Management Co. LLC boosted its position in Dana by 163.7% during the 2nd 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 acquiring an additional 1,784,986 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Dana by 48.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,402,826 shares of the auto parts company’s stock valued at $65,709,000 after acquiring an additional 1,116,271 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Dana by 40.4% during the 1st quarter. AQR Capital Management LLC now owns 3,083,742 shares of the auto parts company’s stock valued at $59,547,000 after acquiring an additional 886,606 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.
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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