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

Dana (NYSE:DAN) was downgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued on Friday, Briefing.com reports. They presently have a $9.00 price target on the auto parts company’s stock, down from their prior price target of $13.00. Wells Fargo & Company‘s price target would indicate a potential downside of 13.83% from the stock’s previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price objective on Dana from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Wolfe Research began coverage on Dana in a report on Thursday, September 5th. They set a “peer perform” rating for the company. UBS Group dropped their price objective on Dana from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $12.00 price objective on shares of Dana in a report on Tuesday, September 10th. Finally, StockNews.com downgraded Dana from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.00.

Dana Trading Up 2.8 %

Shares of DAN opened at $10.45 on Friday. The stock has a fifty day moving average of $11.01 and a two-hundred day moving average of $12.13. 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 market capitalization of $1.51 billion, a PE ratio of 116.06, a price-to-earnings-growth ratio of 0.49 and a beta of 2.29. Dana has a fifty-two week low of $9.16 and a fifty-two week high of $15.45.

Dana (NYSE:DAN) last issued its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.76 billion. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. Dana’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. As a group, analysts forecast that Dana will post 0.98 EPS for the current year.

Institutional Trading of Dana

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Dana in the 2nd quarter valued at about $388,000. Rhumbline Advisers boosted its position 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 buying an additional 5,468 shares during the last quarter. Finally, Cibc World Markets Corp boosted its position in Dana by 46.0% in the 4th 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 last quarter. 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.