Dana (NYSE:DAN) was upgraded by research analysts at Susquehanna Bancshares from a “negative” rating to a “neutral” rating in a report issued on Friday, Marketbeat reports. The brokerage currently has a $29.00 target price on the auto parts company’s stock, up from their previous target price of $25.00. Susquehanna Bancshares’ price target indicates a potential upside of 6.85% from the company’s current price.
DAN has been the subject of a number of other research reports. Guggenheim set a $36.00 price target on Dana and gave the company a “buy” rating in a report on Wednesday, February 14th. TheStreet lowered Dana from a “b” rating to a “c” rating in a report on Tuesday, February 13th. Zacks Investment Research upgraded Dana from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, February 6th. Barclays reiterated a “hold” rating and issued a $32.00 price target on shares of Dana in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. lowered their price target on Dana from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.45.
Shares of Dana (NYSE:DAN) opened at $27.14 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.69 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $4,080.00, a P/E ratio of 13.64 and a beta of 1.79. Dana has a twelve month low of $17.53 and a twelve month high of $35.27.
Dana declared that its Board of Directors has approved a share repurchase program on Wednesday, January 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Mark E. Wallace sold 40,339 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $33.42, for a total value of $1,348,129.38. Following the completion of the transaction, the executive vice president now owns 108,139 shares of the company’s stock, valued at $3,614,005.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dwayne Matthews sold 33,244 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 65,267 shares of the company’s stock, valued at approximately $2,168,169.74. The disclosure for this sale can be found here. Insiders sold 86,207 shares of company stock valued at $2,870,602 in the last three months. 1.60% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of DAN. Anchor Bolt Capital LP increased its position in shares of 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 purchasing an additional 1,341,353 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Dana during the fourth quarter worth $31,168,000. Goldman Sachs Group Inc. increased its position in shares of Dana by 19.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,722,951 shares of the auto parts company’s stock worth $151,182,000 after purchasing an additional 771,233 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Dana by 540.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 903,027 shares of the auto parts company’s stock worth $28,906,000 after purchasing an additional 762,027 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Dana by 4.2% during the fourth quarter. BlackRock Inc. now owns 15,675,484 shares of the auto parts company’s stock worth $501,773,000 after purchasing an additional 626,094 shares in the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
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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