Dana (DAN) Downgraded to C at TheStreet

TheStreet lowered shares of Dana (NYSE:DAN) from a b rating to a c rating in a research report released on Tuesday.

Several other equities research analysts have also recently commented on the company. Deutsche Bank upped their price target on Dana from $24.00 to $30.00 and gave the stock a hold rating in a research note on Friday, November 17th. Zacks Investment Research cut Dana from a strong-buy rating to a hold rating in a research note on Tuesday, October 17th. Barclays restated a hold rating and set a $32.00 price target on shares of Dana in a research note on Tuesday, January 9th. Royal Bank of Canada restated a buy rating on shares of Dana in a research note on Friday, October 27th. Finally, ValuEngine cut Dana from a strong-buy rating to a buy rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $29.55.

Shares of Dana (DAN) opened at $28.60 on Tuesday. Dana has a 52 week low of $17.53 and a 52 week high of $35.27. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $4,191.12, a P/E ratio of 40.86 and a beta of 1.66.

Dana (NYSE:DAN) last released its quarterly earnings results on Tuesday, February 13th. The auto parts company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.09. Dana had a return on equity of 30.70% and a net margin of 1.54%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. research analysts forecast that Dana will post 2.78 EPS for the current fiscal year.

Dana declared that its Board of Directors has authorized a share buyback program on Wednesday, January 17th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the auto parts company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider Dwayne Matthews sold 33,244 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $33.22, for a total transaction of $1,104,365.68. Following the transaction, the insider now owns 65,267 shares of the company’s stock, valued at $2,168,169.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Kevin Kamsickas sold 57,003 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $31.01, for a total value of $1,767,663.03. Following the transaction, the chief executive officer now directly owns 96,312 shares in the company, valued at approximately $2,986,635.12. The disclosure for this sale can be found here. Insiders have sold 150,533 shares of company stock worth $4,873,626 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in DAN. Anchor Bolt Capital LP grew its holdings in Dana by 101.2% during the third quarter. Anchor Bolt Capital LP now owns 2,666,372 shares of the auto parts company’s stock worth $74,552,000 after acquiring an additional 1,341,353 shares during the period. Hennessy Advisors Inc. acquired a new stake in Dana in the fourth quarter valued at $31,168,000. Goldman Sachs Group Inc. grew its holdings in Dana by 19.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,722,951 shares of the auto parts company’s stock valued at $151,182,000 after purchasing an additional 771,233 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Dana by 540.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 903,027 shares of the auto parts company’s stock valued at $28,906,000 after purchasing an additional 762,027 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in Dana by 24.9% in the third quarter. Frontier Capital Management Co. LLC now owns 3,592,845 shares of the auto parts company’s stock valued at $100,456,000 after purchasing an additional 717,152 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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About Dana

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.

Analyst Recommendations for Dana (NYSE:DAN)

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