Dana (NYSE:DAN) Downgraded by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Dana (NYSE:DAN) from an equal weight rating to an underweight rating in a report issued on Friday morning, MarketBeat Ratings reports. They currently have $9.00 target price on the auto parts company’s stock, down from their previous target price of $13.00.

A number of other brokerages have also recently weighed in on DAN. UBS Group lowered their price target on Dana from $14.00 to $12.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price target on shares of Dana from $18.00 to $17.00 and set an overweight rating for the company in a report on Monday, July 22nd. StockNews.com lowered shares of Dana from a buy rating to a hold rating in a report on Tuesday, September 10th. Barclays boosted their target price on Dana from $15.00 to $16.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a hold rating and set a $12.00 price target on shares of Dana in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $14.00.

Dana Price Performance

NYSE:DAN opened at $9.87 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.90 and a current ratio of 1.48. The company has a 50-day moving average of $10.97 and a 200-day moving average of $12.11. Dana has a 52 week low of $9.16 and a 52 week high of $15.27. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 109.67, a PEG ratio of 0.49 and a beta of 2.29.

Dana (NYSE:DAN) last released its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, beating 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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business earned $0.37 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that Dana will post 0.98 earnings per share for the current fiscal year.

Dana Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 9th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.40 dividend on an annualized basis and a yield of 4.05%. Dana’s payout ratio is 444.44%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DAN. Rhumbline Advisers lifted its stake in shares of 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 purchasing an additional 5,468 shares during the period. SG Americas Securities LLC bought a new stake in Dana in the second quarter valued at about $388,000. Finally, Cibc World Markets Corp lifted its stake in Dana by 46.0% in the fourth quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock valued at $17,386,000 after buying an additional 375,000 shares during the period. 96.79% of the stock is currently owned by institutional investors and hedge funds.

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.