Dana (DAN) Downgraded by Bank of America to Neutral

Bank of America cut shares of Dana (NYSE:DAN) from a buy rating to a neutral rating in a report released on Thursday, MarketBeat Ratings reports. The firm currently has $21.00 target price on the auto parts company’s stock.

Other badysts have also issued research reports about the company. Buckingham Research cut their target price on Dana from $26.00 to $22.00 and set a neutral rating on the stock in a research report on Thursday, July 26th. Stephens reissued a hold rating and issued a $23.00 target price on shares of Dana in a research report on Wednesday, August 1st. Zacks Investment Research lowered Dana from a hold rating to a strong sell rating in a research report on Tuesday, July 3rd. Wolfe Research began coverage on Dana in a research report on Tuesday, October 2nd. They issued a peer perform rating on the stock. Finally, ValuEngine lowered Dana from a sell rating to a strong sell rating in a research report on Thursday, June 28th. One equities research badyst has rated the stock with a sell rating, ten have badigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $26.75.

DAN traded up $0.45 during trading hours on Thursday, reaching $16.22. The company’s stock had a trading volume of 103,299 shares, compared to its average volume of 1,455,574. Dana has a fifty-two week low of $15.58 and a fifty-two week high of $35.27. The stock has a market capitalization of $2.38 billion, a PE ratio of 6.43, a P/E/G ratio of 4.39 and a beta of 1.68. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.05 and a current ratio of 1.63.

Dana (NYSE:DAN) last released its quarterly earnings data on Wednesday, July 25th. The auto parts company reported $0.74 EPS for the quarter, missing badysts’ consensus estimates of $0.78 by ($0.04). Dana had a net margin of 2.51% and a return on equity of 32.56%. The business had revenue of $2.05 billion during the quarter, compared to badyst estimates of $2 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s revenue was up 11063.0% on a year-over-year basis. As a group, equities research badysts forecast that Dana will post 2.95 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Zacks Investment Management increased its position in shares of Dana by 9.3% during the second quarter. Zacks Investment Management now owns 77,072 shares of the auto parts company’s stock worth $1,556,000 after acquiring an additional 6,561 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Dana by 15.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,552,146 shares of the auto parts company’s stock worth $31,338,000 after purchasing an additional 204,738 shares in the last quarter. Royce & Associates LP grew its stake in shares of Dana by 18.1% during the second quarter. Royce & Associates LP now owns 1,076,242 shares of the auto parts company’s stock worth $21,729,000 after purchasing an additional 165,000 shares in the last quarter. Adams Diversified Equity Fund Inc. grew its stake in shares of Dana by 43.2% during the second quarter. Adams Diversified Equity Fund Inc. now owns 37,800 shares of the auto parts company’s stock worth $763,000 after purchasing an additional 11,400 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Dana by 7.4% during the first quarter. Principal Financial Group Inc. now owns 1,027,760 shares of the auto parts company’s stock worth $26,475,000 after purchasing an additional 70,655 shares in the last quarter. 93.92% of the stock is currently owned by institutional investors and hedge funds.

Dana Company Profile

Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.

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