Royal Bank of Canada Issues Positive Forecast for Dana (NYSE:DAN) Stock Price

Dana (NYSE:DAN) had its price objective hoisted by equities researchers at Royal Bank of Canada from $13.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the auto parts company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 1.75% from the stock’s previous close.

A number of other equities analysts have also recently commented on DAN. BNP Paribas raised Dana from a “neutral” rating to an “outperform” rating and increased their target price for the company from $9.00 to $16.00 in a report on Tuesday, December 3rd. Barclays increased their target price on Dana from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. UBS Group increased their target price on Dana from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company raised Dana from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $10.00 to $16.00 in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their target price on Dana from $14.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Dana presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Dana Stock Performance

Shares of DAN stock traded down $0.60 on Friday, hitting $15.73. The company had a trading volume of 794,970 shares, compared to its average volume of 1,632,050. The firm has a market cap of $2.28 billion, a P/E ratio of -142.94, a price-to-earnings-growth ratio of 0.73 and a beta of 2.33. The company has a 50-day moving average price of $13.64 and a 200-day moving average price of $11.43. 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 twelve month low of $7.58 and a twelve month high of $16.90.

Dana (NYSE:DAN) last issued its quarterly earnings data on Thursday, February 20th. The auto parts company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.15. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. As a group, equities research analysts predict that Dana will post 0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in Dana by 484.6% in the fourth quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 2,234 shares during the period. GAMMA Investing LLC grew its position in Dana by 118.3% in the fourth quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 1,464 shares during the period. Sterling Capital Management LLC lifted its stake in Dana by 829.3% during the fourth quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company’s stock worth $48,000 after purchasing an additional 3,732 shares in the last quarter. Entropy Technologies LP acquired a new position in Dana during the third quarter worth $250,000. Finally, Martingale Asset Management L P acquired a new position in Dana during the third quarter worth $346,000. 96.79% of the stock is currently owned by hedge funds and other 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.