Dana (NYSE:DAN) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research lowered shares of Dana (NYSE:DAN) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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 have also commented on DAN. Credit Suisse Group assumed coverage on shares of Magna International in a research note on Wednesday, June 26th. They set a neutral rating and a $55.00 price target on the stock. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Finally, Wolfe Research lowered shares of Southwestern Energy from a peer perform rating to an underperform rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Dana presently has an average rating of Buy and a consensus target price of $21.10.

Shares of NYSE:DAN opened at $18.59 on Wednesday. The stock’s fifty day moving average is $17.67. Dana has a 12 month low of $12.65 and a 12 month high of $21.79. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.63 and a quick ratio of 1.02. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 6.26, a P/E/G ratio of 1.56 and a beta of 2.19.

Dana (NYSE:DAN) last announced its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Dana had a net margin of 5.11% and a return on equity of 31.31%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the business earned $0.75 EPS. Dana’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts anticipate that Dana will post 3.32 EPS for the current fiscal year.

In other Dana news, VP James D. Kellett sold 2,825 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $16.05, for a total transaction of $45,341.25. Following the transaction, the vice president now directly owns 2,704 shares of the company’s stock, valued at approximately $43,399.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Convergence Investment Partners LLC purchased a new position in Dana during the 1st quarter worth $145,000. Oakbrook Investments LLC purchased a new position in Dana during the 1st quarter worth $177,000. World Asset Management Inc purchased a new position in Dana during the 1st quarter worth $188,000. Brinker Capital Inc. purchased a new position in Dana during the 1st quarter worth $204,000. Finally, Magnus Financial Group LLC grew its position in Dana by 9.3% during the 1st quarter. Magnus Financial Group LLC now owns 13,259 shares of the auto parts company’s stock worth $235,000 after purchasing an additional 1,126 shares during the last quarter. 94.21% of the stock is currently owned by institutional investors.

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 Drive and Motion Technologies, and Power Technologies.

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