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

Dana Incorporated (NYSE:DAN)’s share price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DAN shares. Barclays raised shares of Dana from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $12.00 to $18.00 in a research report on Monday, December 2nd. UBS Group raised Dana from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $18.00 in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Dana from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. BNP Paribas raised shares of Dana from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $9.00 to $16.00 in a report on Tuesday, December 3rd. Finally, StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.14.

Dana Stock Up 0.7 %

The company’s 50 day moving average price is $11.01 and its two-hundred day moving average price is $10.81. 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 firm has a market cap of $1.88 billion, a PE ratio of -117.68 and a beta of 2.31.

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

Dana Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 8th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Friday, November 8th. Dana’s payout ratio is -363.60%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DAN. GAMMA Investing LLC boosted its stake in Dana by 118.3% in the 4th quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 1,464 shares during the period. Versant Capital Management Inc boosted its position in shares of Dana by 484.6% during the fourth quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 2,234 shares during the last quarter. Entropy Technologies LP purchased a new position in Dana during the third quarter valued at $250,000. SG Americas Securities LLC increased 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 valued at $615,000 after acquiring an additional 26,225 shares during the last quarter. Finally, Martingale Asset Management L P purchased a new stake in Dana in the 3rd quarter worth $346,000. 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.