Dana (NYSE:DAN) Price Target Raised to $16.00 at Barclays

Dana (NYSE:DAN) had its price target upped by Barclays from $15.00 to $16.00 in a report released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the auto parts company’s stock.

Several other equities research analysts also recently commented on DAN. Oppenheimer lifted their target price on shares of Dana from $17.00 to $18.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. UBS Group decreased their target price on Dana from $14.00 to $12.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price objective on shares of Dana from $18.00 to $17.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Finally, Wells Fargo & Company lifted their price target on Dana from $12.00 to $13.00 and gave the company an equal weight rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Dana currently has an average rating of Moderate Buy and an average price target of $15.20.

Dana Stock Performance

Shares of NYSE:DAN traded up $0.05 on Friday, hitting $10.88. The company had a trading volume of 325,422 shares, compared to its average volume of 1,235,078. The stock has a 50 day moving average price of $12.52 and a 200 day moving average price of $12.76. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 1.55. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 119.67 and a beta of 2.33. Dana has a 1-year low of $10.24 and a 1-year high of $18.19.

Dana (NYSE:DAN) last released its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. Dana had a negative net margin of 0.01% and a positive return on equity of 4.98%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the firm earned $0.37 earnings per share. Dana’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts expect that Dana will post 1.05 EPS for the current year.

Dana Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.68%. Dana’s dividend payout ratio is currently 444.44%.

Hedge Funds Weigh In On Dana

Several large investors have recently made changes to their positions in the business. Rhumbline Advisers grew its position in shares of Dana by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after acquiring an additional 5,468 shares during the period. Handelsbanken Fonder AB lifted its stake in Dana by 71.5% in the 4th quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company’s stock worth $519,000 after purchasing an additional 14,800 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Dana in the 2nd quarter worth $388,000. Great Lakes Advisors LLC increased its holdings in shares of Dana by 89.5% in the 4th quarter. Great Lakes Advisors LLC now owns 126,015 shares of the auto parts company’s stock worth $1,841,000 after buying an additional 59,502 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in shares of Dana by 164.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 284,582 shares of the auto parts company’s stock worth $4,158,000 after purchasing an additional 176,778 shares during the period. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

About Dana

Dana Incorporated, together with its subsidiaries, provides power-conveyance and energy-management solutions for vehicles and machinery in North America, Europe, South America, and the Asia Pacific. The company operates through four segments: Light Vehicle Drive Systems, Commercial Vehicle Drive and Motion Systems, Off-Highway Drive and Motion Systems, and Power Technologies.