Wells Fargo & Company Downgrades Dana (NYSE:DAN) to Underweight

Dana (NYSE:DAN) was downgraded by Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $9.00 price target on the auto parts company’s stock, down from their previous price target of $13.00. Wells Fargo & Company‘s price target points to a potential downside of 8.81% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $12.00 price target on shares of Dana in a report on Tuesday, September 10th. UBS Group lowered their price objective on Dana from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Wolfe Research initiated coverage on Dana in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on Dana from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Barclays lifted their price objective on Dana from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Dana Stock Performance

NYSE DAN opened at $9.87 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55. Dana has a 52-week low of $9.16 and a 52-week high of $15.27. The business’s 50-day moving average price is $10.97 and its 200 day moving average price is $12.11. The firm has a market cap of $1.43 billion, a P/E ratio of 109.67, a P/E/G ratio of 0.49 and a beta of 2.29.

Dana (NYSE:DAN) last released its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the company posted $0.37 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, equities research analysts expect that Dana will post 0.98 earnings per share for the current year.

Institutional Investors Weigh In On Dana

Several institutional investors have recently modified their holdings of DAN. SG Americas Securities LLC purchased a new stake in shares of Dana during the 2nd quarter worth approximately $388,000. Rhumbline Advisers boosted its stake in shares of Dana by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after acquiring an additional 5,468 shares in the last quarter. Finally, Cibc World Markets Corp boosted its stake in shares of Dana by 46.0% during the 4th quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after acquiring an additional 375,000 shares in the last quarter. Hedge funds and other institutional investors 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.