B.Riley FBR analyst Christopher Van Horn reiterated a Hold rating on Dana Holding (NYSE: DAN) yesterday and set a price target of $25. The company’s shares opened today at $21.03, close to its 52-week low of $20.40.
Van Horn wrote:
“Dana (DAN, Neutral, $25 PT) has acquired a 55% stake in TM4 Inc., a leader in electro-dynamic components such as electric drive motors, power inverters and control systems. The acquisition was achieved via a joint-venture with Canada’s largest electricity producer Hydro-Quebec, which founded and which will retain a 45% stake in the company. Dana paid $127M for the acquisition and will consolidate TM4 into its financial statements, though we expect negligible impact to adjusted EBITDA.”
According to TipRanks.com, Horn is a 4-star analyst with an average return of 7.4% and a 55.5% success rate. Horn covers the Industrial Goods sector, focusing on stocks such as Superior Industries International, Park-Ohio Holdings, and American Axle.
Dana Holding has an analyst consensus of Moderate Buy, with a price target consensus of $29.75.
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Based on Dana Holding’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.14 billion and net profit of $108 million. In comparison, last year the company earned revenue of $1.7 billion and had a net profit of $75 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is neutral on the stock.
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Dana, Inc. engages in the manufacture, distribution, and sale of technology drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products. It operates through the following segments: Light Vehicle, Commercial Vehicle, Off-Highway, and Power Technologies.
