Zacks Investment Research Upgrades Dana (NYSE:DAN) to Hold

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Dana (NYSE:DAN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, 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. “

DAN has been the topic of several other reports. TheStreet upgraded Dana from a “c” rating to a “b-” rating in a research report on Thursday, November 7th. KeyCorp reduced their target price on Dana from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Oppenheimer started coverage on Dana in a research report on Tuesday, November 19th. They set an “outperform” rating and a $20.00 target price on the stock. ValuEngine downgraded Dana from a “sell” rating to a “strong sell” rating in a report on Saturday, October 19th. Finally, UBS Group started coverage on Dana in a report on Tuesday, November 19th. They issued an “outperform” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Dana currently has an average rating of “Buy” and an average target price of $20.56.

NYSE DAN opened at $17.46 on Monday. The business’s 50-day moving average price is $16.97 and its 200 day moving average price is $15.99. Dana has a twelve month low of $11.57 and a twelve month high of $20.96. The company has a market capitalization of $2.53 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 1.31 and a beta of 2.23. The company has a current ratio of 1.64, a quick ratio of 1.03 and a debt-to-equity ratio of 1.32.

Dana (NYSE:DAN) last released its earnings results on Wednesday, October 30th. The auto parts company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Dana had a return on equity of 26.97% and a net margin of 2.80%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts predict that Dana will post 3.06 EPS for the current year.

In other news, insider Robert D. Pyle sold 32,851 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $17.42, for a total value of $572,264.42. Following the transaction, the insider now directly owns 72,048 shares in the company, valued at approximately $1,255,076.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jonathan Mark Collins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.62, for a total value of $176,200.00. Following the completion of the transaction, the chief financial officer now owns 7,015 shares in the company, valued at $123,604.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,851 shares of company stock worth $1,367,964. Company insiders own 0.75% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Dana by 3,016.1% in the second quarter. Victory Capital Management Inc. now owns 1,310,709 shares of the auto parts company’s stock valued at $26,136,000 after buying an additional 1,268,646 shares in the last quarter. Morgan Stanley grew its stake in shares of Dana by 722.6% in the second quarter. Morgan Stanley now owns 1,163,065 shares of the auto parts company’s stock valued at $23,192,000 after buying an additional 1,021,673 shares in the last quarter. BlackRock Inc. grew its stake in shares of Dana by 5.0% in the second quarter. BlackRock Inc. now owns 19,040,843 shares of the auto parts company’s stock valued at $379,673,000 after buying an additional 906,329 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Dana by 47.8% in the second quarter. Nuveen Asset Management LLC now owns 2,602,629 shares of the auto parts company’s stock valued at $51,896,000 after buying an additional 842,244 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Dana by 46.5% in the second quarter. Prudential Financial Inc. now owns 2,602,147 shares of the auto parts company’s stock valued at $51,887,000 after buying an additional 825,433 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

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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