Dana (NYSE:DAN) Shares Up 7.3% – Here’s Why

Shares of Dana Incorporated (NYSE:DAN) shot up 7.3% on Tuesday . The company traded as high as $12.25 and last traded at $12.16. 2,698,819 shares changed hands during mid-day trading, an increase of 85% from the average session volume of 1,456,750 shares. The stock had previously closed at $11.33.

Analysts Set New Price Targets

DAN has been the subject of a number of recent analyst reports. Barclays raised 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 research note on Monday. Wells Fargo & Company lowered their target price on Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $12.00 price target on shares of Dana in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on shares of Dana in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.86.

Dana Price Performance

The stock has a 50-day moving average price of $9.71 and a two-hundred day moving average price of $11.07. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 1.58. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -102.95, a PEG ratio of 0.97 and a beta of 2.36.

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

Dana Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 8th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 3.30%. Dana’s payout ratio is currently -363.60%.

Hedge Funds Weigh In On Dana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Entropy Technologies LP acquired a new position in Dana in the 3rd quarter worth approximately $250,000. Martingale Asset Management L P acquired a new stake in shares of Dana in the third quarter worth $346,000. SG Americas Securities LLC purchased a new position in shares of Dana during the second quarter worth $388,000. Segall Bryant & Hamill LLC acquired a new position in Dana during the third quarter valued at $2,687,000. Finally, Rhumbline Advisers boosted its holdings in Dana by 1.3% in the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after purchasing an additional 5,468 shares during the last quarter. Hedge funds and other 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.