Dana (NYSE:DAN) Shares Gap Down After Analyst Downgrade

Shares of Dana Incorporated (NYSE:DAN) gapped down prior to trading on Thursday after UBS Group lowered their price target on the stock from $20.00 to $18.00. The stock had previously closed at $11.96, but opened at $11.09. UBS Group currently has a buy rating on the stock. Dana shares last traded at $10.52, with a volume of 146,185 shares traded.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of Dana from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday, February 21st. Wells Fargo & Company upgraded shares of Dana from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $10.00 to $16.00 in a research report on Monday, January 27th. Barclays raised their target price on Dana from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on Dana from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, StockNews.com lowered Dana from a “buy” rating to a “hold” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Dana has an average rating of “Moderate Buy” and an average price target of $18.25.

Hedge Funds Weigh In On Dana

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Dana by 118.3% in the 4th quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 1,464 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Dana by 484.6% during the 4th quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock valued at $31,000 after buying an additional 2,234 shares during the period. Sterling Capital Management LLC lifted its holdings in Dana by 829.3% in the fourth quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company’s stock valued at $48,000 after acquiring an additional 3,732 shares during the last quarter. State of Tennessee Department of Treasury grew its position in Dana by 6.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 54,271 shares of the auto parts company’s stock worth $627,000 after acquiring an additional 3,368 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of Dana by 2.0% during the 4th quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company’s stock worth $657,000 after purchasing an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Dana Stock Performance

The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 1.45. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -27.73, a P/E/G ratio of 0.72 and a beta of 2.26. The firm has a 50-day simple moving average of $14.21 and a two-hundred day simple moving average of $12.24.

Dana (NYSE:DAN) last released its quarterly earnings results on Thursday, February 20th. The auto parts company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.15. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Dana had a positive return on equity of 6.70% and a negative net margin of 0.55%. On average, sell-side analysts anticipate that Dana Incorporated will post 1.5 EPS for the current fiscal year.

Dana Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, February 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 3.70%. Dana’s payout ratio is -102.56%.

About Dana

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.