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

Dana Incorporated (NYSE:DAN) shares gapped up before the market opened on Monday . The stock had previously closed at $10.00, but opened at $10.78. Dana shares last traded at $11.42, with a volume of 839,147 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DAN. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Wolfe Research began coverage on Dana in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their target price on Dana from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, October 31st. BNP Paribas raised Dana from a “neutral” rating to an “outperform” rating and upped their price target for the company from $9.00 to $16.00 in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $12.00 price objective on shares of Dana in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dana presently has a consensus rating of “Hold” and an average target price of $13.86.

Dana Price Performance

The company’s fifty day moving average price is $9.74 and its two-hundred day moving average price is $11.06. 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 company has a market cap of $1.75 billion, a price-to-earnings ratio of -109.99, a PEG ratio of 1.10 and a beta of 2.36.

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

Dana Dividend Announcement

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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.31%. 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 hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Dana during the 2nd quarter worth about $388,000. Rhumbline Advisers boosted its position in Dana by 1.3% during 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. Entropy Technologies LP bought a new position in Dana in the third quarter valued at approximately $250,000. Segall Bryant & Hamill LLC acquired a new position in shares of Dana during the 3rd quarter worth approximately $2,687,000. Finally, JB Capital Partners LP raised 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 worth $14,880,000 after purchasing an additional 128,000 shares in the last quarter. 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.