Dana Incorporated (NYSE:DAN) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Dana Incorporated (NYSE:DAN) from a strong-buy rating to a hold rating in a report released on Tuesday, October 17th.

According to Zacks, “Dana Inc. is a provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies. It operates primarily in North America, South America, Europe and Asia pacific. Dana Inc., formerly known as Dana Holding Corporation, is headquartered in Maumee, Ohio. “

A number of other analysts also recently weighed in on DAN. Barclays PLC reissued an equal weight rating and set a $26.00 target price (up previously from $24.00) on shares of Dana in a research report on Wednesday, August 2nd. Buckingham Research raised their price objective on shares of Dana from $23.00 to $25.00 and gave the stock a neutral rating in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of Dana from a strong-buy rating to a buy rating in a research report on Friday, July 28th. Royal Bank Of Canada reaffirmed a buy rating and set a $27.00 price objective on shares of Dana in a research report on Thursday, October 5th. Finally, UBS AG reaffirmed a neutral rating and set a $24.00 price objective (up previously from $20.00) on shares of Dana in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $26.10.

Dana (NYSE:DAN) opened at 29.42 on Tuesday. The firm has a market cap of $4.26 billion, a PE ratio of 6.24 and a beta of 1.56. The company’s 50-day moving average is $27.51 and its 200-day moving average is $23.27. Dana has a one year low of $14.53 and a one year high of $29.70.

Dana (NYSE:DAN) last released its earnings results on Thursday, October 26th. The auto parts company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.71 billion. Dana had a net margin of 10.80% and a return on equity of 30.79%. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, analysts forecast that Dana will post $2.36 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.82%. The ex-dividend date is Thursday, November 9th. Dana’s payout ratio is currently 5.10%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Dana by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock valued at $113,000 after purchasing an additional 520 shares during the period. US Bancorp DE grew its position in Dana by 15.0% in the 1st quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock valued at $183,000 after purchasing an additional 1,233 shares during the period. ETRADE Capital Management LLC acquired a new stake in Dana in the 2nd quarter valued at $205,000. Shelton Capital Management acquired a new stake in Dana in the 1st quarter valued at $210,000. Finally, Riverhead Capital Management LLC lifted its stake in Dana by 70.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,056 shares of the auto parts company’s stock valued at $225,000 after acquiring an additional 4,156 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Dana Company Profile

Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.

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