Bank of America Upgrades Dana (NYSE:DAN) to “Buy”

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Bank of America upgraded shares of Dana (NYSE:DAN) from a neutral rating to a buy rating in a research report report published on Friday, BenzingaRatingsTable reports. The analysts noted that the move was a valuation call.

A number of other brokerages have also commented on DAN. TheStreet lowered shares of Dana from a b- rating to a c+ rating in a report on Tuesday, August 20th. ValuEngine lowered shares of Dana from a sell rating to a strong sell rating in a report on Thursday, August 1st. UBS Group decreased their price objective on shares of Dana from $22.00 to $21.00 and set a buy rating on the stock in a report on Thursday. Zacks Investment Research raised shares of Dana from a sell rating to a hold rating in a report on Monday, August 12th. Finally, Credit Suisse Group initiated coverage on shares of Dana in a report on Wednesday, June 26th. They set an outperform rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Dana presently has an average rating of Buy and an average target price of $21.10.

Shares of Dana stock opened at $15.23 on Friday. Dana has a 12-month low of $11.57 and a 12-month high of $21.17. The company has a 50-day simple moving average of $14.23 and a 200 day simple moving average of $17.15. The company has a quick ratio of 1.01, a current ratio of 1.63 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $2.07 billion, a P/E ratio of 4.59, a price-to-earnings-growth ratio of 1.26 and a beta of 2.25.

Dana (NYSE:DAN) last issued its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). Dana had a return on equity of 29.55% and a net margin of 2.67%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts anticipate that Dana will post 3.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Thursday, August 15th. Dana’s dividend payout ratio is currently 13.47%.

In other news, EVP Mark E. Wallace sold 44,570 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $13.41, for a total value of $597,683.70. Following the transaction, the executive vice president now owns 145,431 shares of the company’s stock, valued at approximately $1,950,229.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of DAN. Geode Capital Management LLC boosted its stake in shares of Dana by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 1,617,488 shares of the auto parts company’s stock valued at $22,045,000 after purchasing an additional 175,414 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Dana by 657.7% in the 1st quarter. Bank of Montreal Can now owns 128,666 shares of the auto parts company’s stock valued at $2,282,000 after purchasing an additional 111,684 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Dana by 1.0% in the 1st quarter. Rhumbline Advisers now owns 428,190 shares of the auto parts company’s stock valued at $7,596,000 after purchasing an additional 4,197 shares during the last quarter. Texas Permanent School Fund boosted its stake in shares of Dana by 2.8% in the 1st quarter. Texas Permanent School Fund now owns 97,344 shares of the auto parts company’s stock valued at $1,727,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Dana in the 1st quarter valued at about $381,000. 95.01% 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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Analyst Recommendations for Dana (NYSE:DAN)

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