Wells Fargo & Company Forecasts Strong Price Appreciation for Dana (NYSE:DAN) Stock

Dana (NYSE:DAN) had its target price increased by investment analysts at Wells Fargo & Company from $7.00 to $10.00 in a report released on Monday,Benzinga reports. The firm currently has an “underweight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 21.14% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. Wolfe Research initiated coverage on shares of Dana in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. decreased their price objective on Dana from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, November 11th. StockNews.com downgraded Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Barclays raised Dana from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $12.00 to $18.00 in a research note on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Dana from a “hold” rating to a “buy” rating and raised their price target for the company from $9.00 to $19.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Dana currently has an average rating of “Hold” and an average price target of $15.29.

Dana Price Performance

Shares of NYSE DAN opened at $12.68 on Monday. The firm has a market cap of $1.84 billion, a PE ratio of -115.27, a price-to-earnings-growth ratio of 1.26 and a beta of 2.36. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 1.58. Dana has a fifty-two week low of $7.58 and a fifty-two week high of $15.07. The business has a 50 day moving average price of $10.05 and a two-hundred day moving average price of $10.99.

Dana (NYSE:DAN) last issued its 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 firm had revenue of $2.48 billion during 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%. Dana’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. Sell-side analysts expect that Dana will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dana

A number of institutional investors and hedge funds have recently modified their holdings of DAN. Entropy Technologies LP purchased a new stake in shares of Dana in the 3rd quarter valued at approximately $250,000. SG Americas Securities LLC acquired a new stake in Dana during the 2nd quarter valued at $388,000. Martingale Asset Management L P purchased a new stake in shares of Dana in the third quarter valued at $346,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Dana in the third quarter worth $2,687,000. Finally, Rhumbline Advisers grew its holdings in shares of Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after buying an additional 5,468 shares in the last quarter. 96.79% of the stock is 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.