Royal Bank Of Canada Boosts Dana (NYSE:DAN) Price Target to $26.00

Dana (NYSE:DAN – Get Free Report) had its price target raised by equities research analysts at Royal Bank Of Canada from $24.00 to $26.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the auto parts company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 28.09% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. UBS Group reaffirmed a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Dana in a research report on Monday, July 14th. Barclays reaffirmed an “overweight” rating and set a $25.00 price target (up from $20.00) on shares of Dana in a research report on Thursday, June 12th. Cfra Research raised shares of Dana from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of Dana from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Dana in a research report on Thursday, June 12th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.29.
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Dana Price Performance
Dana stock opened at $20.30 on Tuesday. Dana has a 1 year low of $7.58 and a 1 year high of $20.68. The firm has a 50 day moving average price of $17.76 and a 200 day moving average price of $15.75. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -126.86, a PEG ratio of 1.87 and a beta of 2.12. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.00 and a current ratio of 1.36.
Dana (NYSE:DAN – Get Free Report) last released its earnings results on Monday, August 11th. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.35). Dana had a negative net margin of 0.26% and a positive return on equity of 5.65%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Dana’s revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Dana will post 1.5 earnings per share for the current year.
Insider Activity
In other news, CAO James D. Kellett sold 11,728 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $18.65, for a total transaction of $218,727.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company’s stock.
Hedge Funds Weigh In On Dana
Institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of Dana during the second quarter worth about $25,000. Cornerstone Investment Partners LLC bought a new position in shares of Dana during the first quarter worth about $146,000. Captrust Financial Advisors bought a new position in shares of Dana during the second quarter worth about $176,000. GAMMA Investing LLC lifted its holdings in Dana by 1,495.0% in the first quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company’s stock worth $574,000 after purchasing an additional 40,394 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Dana by 3.8% in the first quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company’s stock worth $599,000 after purchasing an additional 1,662 shares during the period. Institutional investors own 96.79% of the company’s stock.
Dana Company Profile
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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.
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