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

Dana Incorporated (NYSE:DAN) shares 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DAN shares. StockNews.com lowered shares of Dana from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Barclays raised Dana from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $12.00 to $18.00 in a report on Monday, December 2nd. BNP Paribas upgraded Dana from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $9.00 to $16.00 in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on Dana from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Monday, December 16th. Finally, UBS Group raised shares of Dana from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $18.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.14.

Dana Price Performance

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

Dana (NYSE:DAN) last released 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). Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, research analysts forecast that Dana Incorporated will post 0.85 EPS for the current year.

Dana Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 8th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 3.11%. Dana’s payout ratio is currently -363.60%.

Institutional Investors Weigh In On Dana

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