Dana (NYSE:DAN) Given New $14.00 Price Target at JPMorgan Chase & Co.

Dana (NYSE:DAN) had its price objective lowered by JPMorgan Chase & Co. from $16.00 to $14.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the auto parts company’s stock.

A number of other research firms have also issued reports on DAN. StockNews.com lowered Dana from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company cut their price target on Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, October 31st. Barclays decreased their price objective on Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Wolfe Research assumed coverage on Dana in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $12.00 price objective on shares of Dana in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.50.

Dana Price Performance

DAN opened at $8.35 on Monday. Dana has a fifty-two week low of $7.58 and a fifty-two week high of $15.07. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.49 and a quick ratio of 0.86. The business has a fifty day simple moving average of $9.95 and a 200-day simple moving average of $11.49.

Dana (NYSE:DAN) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. On average, equities analysts predict that Dana will post 0.85 earnings per share for the current year.

Dana Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 8th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s payout ratio is -363.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Entropy Technologies LP bought a new stake in shares of Dana in the third quarter valued at about $250,000. SG Americas Securities LLC acquired a new stake in shares of Dana in the second quarter valued at approximately $388,000. Martingale Asset Management L P bought a new stake in shares of Dana in the third quarter valued at approximately $346,000. Segall Bryant & Hamill LLC acquired a new stake in Dana during the third quarter worth approximately $2,687,000. Finally, Rhumbline Advisers raised its holdings in Dana by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after acquiring an additional 5,468 shares in the last quarter. 96.79% of the stock is currently owned by institutional investors.

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.