Barclays Cuts Dana (NYSE:DAN) Price Target to $12.00

Dana (NYSE:DAN) had its price target trimmed by Barclays from $14.00 to $12.00 in a report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the auto parts company’s stock.

DAN has been the topic of several other reports. Wolfe Research assumed coverage on Dana in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. StockNews.com downgraded Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.00 price target on shares of Dana in a research note on Tuesday, September 10th. UBS Group dropped 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. Finally, JPMorgan Chase & Co. dropped their price target on Dana from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Dana presently has a consensus rating of “Hold” and an average price target of $12.83.

Dana Stock Performance

Dana stock opened at $7.67 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.49 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $1.11 billion, a P/E ratio of -69.68, a PEG ratio of 0.50 and a beta of 2.28. The stock’s 50 day moving average is $10.43 and its 200 day moving average is $11.73. Dana has a twelve month low of $7.63 and a twelve month high of $15.07.

Dana (NYSE:DAN) last issued its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts predict that Dana will post 0.94 earnings per share for the current fiscal year.

Dana Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.40 annualized dividend and a yield of 5.22%. Dana’s dividend payout ratio (DPR) is presently -363.60%.

Hedge Funds Weigh In On Dana

An institutional investor recently raised its position in Dana stock. Rhumbline Advisers boosted its stake in shares of Dana Incorporated (NYSE:DAN) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 426,586 shares of the auto parts company’s stock after purchasing an additional 5,468 shares during the period. Rhumbline Advisers owned about 0.29% of Dana worth $5,170,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

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.