Dana (NYSE:DAN) Hits New 12-Month High - Should You Buy?

Key Points

• Dana Incorporated's stock reached a new 52-week high at $21.19, with a significant trading volume of 57,393 shares.
• Six analysts rated Dana as a Buy, while the average target price has been raised to $21.57 from previous estimates.
• The company recently declared a quarterly dividend of $0.10 per share, representing an annualized dividend yield of 1.9%.

Dana Incorporated (NYSE:DAN - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $21.02 and last traded at $21.19, with a volume of 57393 shares traded. The stock had previously closed at $20.78.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DAN. Wall Street Zen raised shares of Dana from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Barclays reiterated an "overweight" rating and issued a $25.00 price target (up previously from $20.00) on shares of Dana in a research note on Thursday, June 12th. Cfra Research upgraded shares of Dana from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. decreased their target price on shares of Dana from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Finally, Wells Fargo & Company upped their target price on shares of Dana from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.57.

Dana Stock Up 2.5%

The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 2.02. The firm has a market cap of $2.79 billion, a P/E ratio of -133.09, a PEG ratio of 1.90 and a beta of 2.12. The company's 50 day simple moving average is $18.09 and its 200-day simple moving average is $15.90.

Dana (NYSE:DAN - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The auto parts company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.35). The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.55 billion. Dana had a negative net margin of 0.26% and a positive return on equity of 5.65%. Dana's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. Research analysts forecast that Dana Incorporated will post 1.5 earnings per share for the current fiscal year.

Dana Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 8th. Dana's dividend payout ratio is presently -250.00%.

Insider Buying and Selling at Dana

In other news, CAO James D. Kellett sold 11,728 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $18.65, for a total transaction of $218,727.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Dana

Institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new position in shares of Dana in the 2nd quarter worth approximately $25,000. Cornerstone Investment Partners LLC bought a new position in shares of Dana in the 1st quarter worth approximately $146,000. Captrust Financial Advisors bought a new position in shares of Dana in the 2nd quarter worth approximately $176,000. GAMMA Investing LLC lifted its stake in shares of Dana by 1,495.0% in the 1st quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company's stock worth $574,000 after purchasing an additional 40,394 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Dana by 3.8% in the 1st quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company's stock worth $599,000 after purchasing an additional 1,662 shares during the period. 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.

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