JPMorgan Chase & Co. Cuts Dana (NYSE:DAN) Price Target to $14.00

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

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

Dana Stock Down 0.3 %

Shares of NYSE:DAN opened at $8.56 on Monday. The company has a 50 day moving average price of $9.95 and a two-hundred day moving average price of $11.49. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.86 and a current ratio of 1.49. The company has a market capitalization of $1.24 billion, a PE ratio of -77.77, a PEG ratio of 0.82 and a beta of 2.30. Dana has a 52 week low of $7.58 and a 52 week high of $15.07.

Dana (NYSE:DAN) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The firm had revenue of $2.48 billion during 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%. Dana’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. Analysts forecast that Dana will post 0.87 earnings per share for the current year.

Dana Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.68%. Dana’s dividend payout ratio is -363.60%.

Institutional Trading of Dana

A number of hedge funds and other institutional investors have recently modified their holdings of DAN. Segall Bryant & Hamill LLC acquired a new position in Dana during the third quarter valued at approximately $2,687,000. SG Americas Securities LLC acquired a new stake in shares of Dana in the 2nd quarter valued at approximately $388,000. Entropy Technologies LP bought a new position in shares of Dana in the third quarter valued at $250,000. Finally, Rhumbline Advisers grew its stake in shares of Dana by 1.3% in the second 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 in the last quarter. Institutional investors and hedge funds 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.