JPMorgan Chase & Co. Issues Pessimistic Forecast for Dana (NYSE:DAN) Stock Price

Dana (NYSE:DAN) had its target price reduced by JPMorgan Chase & Co. from $16.00 to $14.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

Several other equities research analysts also recently commented on DAN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $12.00 target price on shares of Dana in a report on Tuesday, September 10th. Barclays reduced their target price on Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Wolfe Research assumed coverage on Dana in a report on Thursday, September 5th. They set a “peer perform” rating for the company. StockNews.com downgraded Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company reduced their price objective on Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.50.

Dana Stock Up 0.6 %

Shares of Dana stock opened at $8.55 on Monday. The business’s fifty day moving average price is $10.09 and its two-hundred day moving average price is $11.57. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.86. The company has a market capitalization of $1.24 billion, a P/E ratio of -77.82, a PEG ratio of 0.81 and a beta of 2.30. Dana has a 1-year low of $7.58 and a 1-year high of $15.07.

Dana (NYSE:DAN) last announced its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.57 billion. Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. As a group, research analysts forecast that Dana will post 0.87 EPS for the current year.

Dana Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s payout ratio is currently -363.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC acquired a new stake in Dana in the 3rd quarter valued at approximately $2,687,000. SG Americas Securities LLC acquired a new stake in Dana in the 2nd quarter valued at approximately $388,000. Entropy Technologies LP bought a new stake in shares of Dana in the 3rd quarter worth approximately $250,000. Finally, Rhumbline Advisers lifted its position 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 worth $5,170,000 after acquiring an additional 5,468 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.