Dana (DAN) Receives Buy Rating from Royal Bank of Canada

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Royal Bank of Canada reiterated their buy rating on shares of Dana (NYSE:DAN) in a research note published on Monday morning. The brokerage currently has a $21.00 price target on the auto parts company’s stock.

Several other equities analysts have also weighed in on DAN. Zacks Investment Research lowered shares of Dana from a hold rating to a strong sell rating in a research report on Tuesday, July 3rd. Barclays raised shares of Dana from an equal weight rating to an overweight rating and set a $30.00 price target on the stock in a research report on Thursday, July 26th. Buckingham Research lowered their price target on shares of Dana from $26.00 to $22.00 and set a neutral rating on the stock in a research report on Thursday, July 26th. Stephens reaffirmed a hold rating and set a $23.00 price target on shares of Dana in a research report on Wednesday, August 1st. Finally, Wolfe Research began coverage on shares of Dana in a research report on Tuesday, October 2nd. They set a peer perform rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Dana presently has an average rating of Hold and an average price target of $25.80.

Shares of DAN traded down $0.08 during trading hours on Monday, hitting $14.35. The company had a trading volume of 1,707,820 shares, compared to its average volume of 1,627,250. The firm has a market capitalization of $2.40 billion, a PE ratio of 5.69, a PEG ratio of 4.46 and a beta of 1.68. Dana has a 12 month low of $14.18 and a 12 month high of $35.27. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.63 and a quick ratio of 1.05.

Dana (NYSE:DAN) last issued its quarterly earnings data on Monday, October 29th. The auto parts company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. Dana had a net margin of 2.51% and a return on equity of 32.56%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. Analysts predict that Dana will post 2.94 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 8th. Dana’s dividend payout ratio is 15.87%.

Large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its position in Dana by 54.8% during the second quarter. Macquarie Group Ltd. now owns 9,600 shares of the auto parts company’s stock worth $194,000 after acquiring an additional 3,400 shares during the period. Global X Management Co LLC acquired a new stake in Dana during the second quarter worth about $220,000. Nomura Holdings Inc. acquired a new stake in Dana during the second quarter worth about $262,000. PEAK6 Investments L.P. grew its stake in Dana by 157.0% during the second quarter. PEAK6 Investments L.P. now owns 13,866 shares of the auto parts company’s stock worth $280,000 after buying an additional 38,182 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Dana during the second quarter worth about $328,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

About Dana

Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.

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Analyst Recommendations for Dana (NYSE:DAN)

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