Dana (NYSE:DAN) Reaches New 12-Month High Following Analyst Upgrade

Dana Incorporated (NYSE:DAN)’s share price hit a new 52-week high on Wednesday after Royal Bank Of Canada raised their price target on the stock from $24.00 to $26.00. Royal Bank Of Canada currently has an outperform rating on the stock. Dana traded as high as $20.68 and last traded at $20.42, with a volume of 230292 shares. The stock had previously closed at $20.25.

A number of other brokerages have also commented on DAN. Wall Street Zen upgraded Dana from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Barclays reaffirmed an “overweight” rating and set a $25.00 target price (up previously from $20.00) on shares of Dana in a research report on Thursday, June 12th. Cfra Research raised shares of Dana from a “moderate sell” rating to a “hold” rating in a report on Tuesday, August 5th. Wells Fargo & Company restated a “buy” rating on shares of Dana in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Dana from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.29.

Insider Transactions at Dana

In other Dana news, CAO James D. Kellett sold 11,728 shares of Dana stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $18.65, for a total transaction of $218,727.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dana

A number of hedge funds have recently made changes to their positions in DAN. GAMMA Investing LLC grew its position in Dana by 1,495.0% during the 1st quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company’s stock worth $574,000 after acquiring an additional 40,394 shares during the last quarter. SG Americas Securities LLC boosted its stake in Dana by 3.8% in the first quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company’s stock worth $599,000 after purchasing an additional 1,662 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of Dana during the first quarter worth $146,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Dana in the first quarter valued at $2,434,000. Finally, JB Capital Partners LP increased its stake in shares of Dana by 1.1% in the first quarter. JB Capital Partners LP now owns 1,852,293 shares of the auto parts company’s stock valued at $24,524,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

Dana Price Performance

The stock has a fifty day moving average of $17.76 and a 200-day moving average of $15.75. The firm has a market capitalization of $2.66 billion, a P/E ratio of -126.86, a PEG ratio of 1.87 and a beta of 2.12. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 2.02.

Dana (NYSE:DAN) last posted its quarterly earnings data on Monday, August 11th. The auto parts company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.35). Dana had a negative net margin of 0.26% and a positive return on equity of 5.65%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. Equities analysts predict that Dana Incorporated will post 1.5 EPS for the current fiscal year.

Dana Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.40 annualized dividend and a yield of 2.0%. Dana’s dividend payout ratio is currently -250.00%.

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.