Wolfe Research Begins Coverage on Dana (NYSE:DAN)

Wolfe Research assumed coverage on shares of Dana (NYSE:DAN) in a report released on Thursday morning, MarketBeat.com reports. The firm issued a peer perform rating on the auto parts company’s stock.

Several other research analysts also recently issued reports on DAN. Barclays upped their price objective on Dana from $15.00 to $16.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. UBS Group cut their price target on Dana from $14.00 to $12.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company lifted their price objective on Dana from $12.00 to $13.00 and gave the stock an equal weight rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Dana from a hold rating to a buy rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Dana from $18.00 to $17.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $15.20.

Dana Price Performance

Shares of DAN stock opened at $10.13 on Thursday. The stock’s fifty day moving average is $11.34 and its 200-day moving average is $12.29. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.90 and a current ratio of 1.48. Dana has a 52 week low of $10.06 and a 52 week high of $15.91. The stock has a market capitalization of $1.47 billion, a PE ratio of 112.56 and a beta of 2.29.

Dana (NYSE:DAN) last posted its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the company posted $0.37 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts expect that Dana will post 0.9 EPS for the current fiscal year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.40 annualized dividend and a dividend yield of 3.95%. Dana’s payout ratio is currently 444.44%.

Institutional Trading of Dana

A number of hedge funds have recently modified their holdings of DAN. Cibc World Markets Corp grew its holdings in Dana by 46.0% during the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after purchasing an additional 375,000 shares during the period. Rhumbline Advisers grew its holdings in shares of Dana by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after buying an additional 5,468 shares during the period. Great Lakes Advisors LLC increased its position 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 valued at $1,841,000 after buying an additional 59,502 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Dana during the 2nd quarter worth $388,000. 96.79% of the stock is currently owned by institutional investors and hedge funds.

Dana Company Profile

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.