Dana (NYSE:DAN) Shares Gap Up – Still a Buy?

Dana Incorporated (NYSE:DAN)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.07, but opened at $13.12. Dana shares last traded at $12.83, with a volume of 236,790 shares changing hands.

Wall Street Analysts Forecast Growth

DAN has been the subject of a number of research reports. UBS Group raised shares of Dana from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $18.00 in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on Dana from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Barclays upgraded shares of Dana from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $12.00 to $18.00 in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Dana from a “hold” rating to a “buy” rating and increased their price target for the stock from $9.00 to $19.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company upped their price objective on shares of Dana from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dana has a consensus rating of “Moderate Buy” and a consensus target price of $16.14.

Dana Price Performance

The firm’s fifty day simple moving average is $10.84 and its 200-day simple moving average is $10.79. The company has a quick ratio of 0.86, a current ratio of 1.49 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $1.87 billion, a PE ratio of -117.08 and a beta of 2.31.

Dana (NYSE:DAN) last posted its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. On average, research analysts forecast that Dana Incorporated will post 0.85 earnings per share for the current fiscal year.

Dana Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 8th were given a dividend of $0.10 per share. The ex-dividend date was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a yield of 3.11%. Dana’s dividend payout ratio (DPR) is -363.60%.

Institutional Investors Weigh In On Dana

Large investors have recently added to or reduced their stakes in the stock. JB Capital Partners LP grew its stake in shares of Dana by 9.9% during the 3rd quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock valued at $14,880,000 after acquiring an additional 128,000 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Dana in the 3rd quarter worth approximately $2,687,000. SG Americas Securities LLC lifted its holdings in Dana by 81.8% in the 3rd quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock worth $615,000 after purchasing an additional 26,225 shares in the last quarter. Martingale Asset Management L P bought a new position in Dana in the 3rd quarter worth approximately $346,000. Finally, Entropy Technologies LP purchased a new stake in Dana during the 3rd quarter valued at approximately $250,000. Institutional investors own 96.79% of the company’s stock.

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.