Dana (NYSE:DAN) Hits New 52-Week High – Here’s What Happened

Dana Incorporated (NYSE:DAN) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.16 and last traded at $16.01, with a volume of 146334 shares traded. The stock had previously closed at $13.23.

Analyst Ratings Changes

Several equities analysts recently issued reports on DAN shares. JPMorgan Chase & Co. reduced their price objective on Dana from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. StockNews.com cut Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upgraded Dana from a “hold” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $19.00 in a research note on Monday, December 9th. Wells Fargo & Company raised 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, 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 note on Tuesday, December 3rd. One investment 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.14.

Dana Trading Up 18.4 %

The business has a fifty day moving average of $11.29 and a 200-day moving average of $10.83. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -141.73 and a beta of 2.31. 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 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). Dana had a negative net margin of 0.15% and a positive return on equity of 3.48%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business earned $0.30 EPS. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Dana Incorporated will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dana

A number of institutional investors have recently bought and sold shares of DAN. SG Americas Securities LLC boosted its position in Dana by 81.8% during the 3rd quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock worth $615,000 after acquiring an additional 26,225 shares during the period. Entropy Technologies LP acquired a new stake in Dana during the 3rd quarter worth about $250,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Dana during the 3rd quarter valued at about $2,687,000. 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 valued at $14,880,000 after buying an additional 128,000 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new stake in shares of Dana during the 3rd quarter valued at about $346,000. 96.79% of the stock is currently owned by institutional investors and hedge funds.

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.