Zacks Investment Research Upgrades Dana (NYSE:DAN) to Buy

Zacks Investment Research upgraded shares of Dana (NYSE:DAN) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. The brokerage currently has $21.00 price target on the auto parts company’s stock.

According to Zacks, “Dana Inc. is a provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies. It operates primarily in North America, South America, Europe and Asia pacific. Dana Inc., formerly known as Dana Holding Corporation, is headquartered in Maumee, Ohio. “

DAN has been the subject of a number of other reports. Credit Suisse Group initiated coverage on shares of Magna International in a research note on Wednesday, June 26th. They set a neutral rating and a $55.00 price objective for the company. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Finally, Wolfe Research lowered shares of Southwestern Energy from a peer perform rating to an underperform rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $21.10.

Shares of NYSE DAN opened at $18.59 on Tuesday. Dana has a twelve month low of $12.65 and a twelve month high of $21.79. The company has a quick ratio of 1.02, a current ratio of 1.63 and a debt-to-equity ratio of 1.67. The firm has a market cap of $2.64 billion, a P/E ratio of 6.26, a price-to-earnings-growth ratio of 1.56 and a beta of 2.19. The firm has a 50-day simple moving average of $17.67.

Dana (NYSE:DAN) last issued its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. Dana had a net margin of 5.11% and a return on equity of 31.31%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the company earned $0.75 EPS. Dana’s revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that Dana will post 3.32 EPS for the current year.

In other Dana news, VP James D. Kellett sold 2,825 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $16.05, for a total transaction of $45,341.25. Following the completion of the sale, the vice president now directly owns 2,704 shares of the company’s stock, valued at $43,399.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Convergence Investment Partners LLC acquired a new position in shares of Dana in the 1st quarter valued at about $145,000. Oakbrook Investments LLC acquired a new position in shares of Dana in the 1st quarter valued at about $177,000. World Asset Management Inc acquired a new position in shares of Dana in the 1st quarter valued at about $188,000. Brinker Capital Inc. acquired a new position in shares of Dana in the 1st quarter valued at about $204,000. Finally, Magnus Financial Group LLC increased its holdings in shares of Dana by 9.3% in the 1st quarter. Magnus Financial Group LLC now owns 13,259 shares of the auto parts company’s stock valued at $235,000 after purchasing an additional 1,126 shares during the period. 94.21% of the stock is owned by institutional investors.

About Dana

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 Drive and Motion Technologies, and Power Technologies.

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