Dana (NYSE:DAN) Given New $7.00 Price Target at Wells Fargo & Company

Dana (NYSE:DAN) had its price target cut by Wells Fargo & Company from $9.00 to $7.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an underweight rating on the auto parts company’s stock.

DAN has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on Dana from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Wolfe Research assumed coverage on Dana in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Barclays decreased their price objective on Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. StockNews.com cut Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.00 target price on shares of Dana in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.83.

Dana Price Performance

Dana stock opened at $7.67 on Thursday. The firm has a market capitalization of $1.11 billion, a P/E ratio of -69.68, a PEG ratio of 0.50 and a beta of 2.28. Dana has a 1 year low of $7.63 and a 1 year high of $15.07. The business has a 50-day moving average of $10.43 and a 200-day moving average of $11.73. The company has a current ratio of 1.49, a quick ratio of 0.90 and a debt-to-equity ratio of 1.58.

Dana (NYSE:DAN) last posted its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13). Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Dana’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Dana will post 0.94 EPS for the current year.

Dana Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Friday, November 8th. Dana’s dividend payout ratio is currently -363.60%.

Institutional Investors Weigh In On Dana

An institutional investor recently bought a new position in Dana stock. SG Americas Securities LLC purchased a new stake in Dana Incorporated (NYSE:DAN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,049 shares of the auto parts company’s stock, valued at approximately $388,000. 96.79% of the stock is currently owned by institutional investors.

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.