Dana (NYSE:DAN) Hits New 52-Week High After Analyst Upgrade

Key Points

• Dana Incorporated shares reached a new 52-week high after Royal Bank of Canada upgraded the stock's price target from $24.00 to $26.00, maintaining an outperform rating.
• The company recently reported earnings of $0.05 per share, falling short of expectations, with a revenue decline of 5.5% compared to the same quarter last year.
• Dana announced a quarterly dividend of $0.10 per share, representing an annualized dividend yield of 2.0%, despite a negative payout ratio.

Shares of Dana Incorporated (NYSE:DAN - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from $24.00 to $26.00. Royal Bank Of Canada currently has an outperform rating on the stock. Dana traded as high as $20.68 and last traded at $20.42, with a volume of 230292 shares trading hands. The stock had previously closed at $20.25.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Dana from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $25.00 target price (up from $20.00) on shares of Dana in a report on Thursday, June 12th. Wells Fargo & Company reaffirmed a "buy" rating on shares of Dana in a report on Thursday, June 12th. Cfra Research raised Dana from a "moderate sell" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, UBS Group reaffirmed a "buy" rating and set a $23.00 target price (up from $22.00) on shares of Dana in a report on Monday, July 14th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Dana presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.29.

Insiders Place Their Bets

In related news, CAO James D. Kellett sold 11,728 shares of Dana stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $18.65, for a total value of $218,727.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.46% of the company's stock.

Hedge Funds Weigh In On Dana

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in 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 in the last quarter. SG Americas Securities LLC grew its stake in Dana by 3.8% during the 1st quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company's stock valued at $599,000 after acquiring an additional 1,662 shares in the last quarter. JB Capital Partners LP grew its stake in Dana by 1.1% during the 1st quarter. JB Capital Partners LP now owns 1,852,293 shares of the auto parts company's stock valued at $24,524,000 after acquiring an additional 20,000 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Dana during the 1st quarter valued at about $2,434,000. Finally, Cornerstone Investment Partners LLC purchased a new position in Dana during the 1st quarter valued at about $146,000. Hedge funds and other institutional investors own 96.79% of the company's stock.

Dana Trading Up 0.8%

The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.00 and a current ratio of 1.36. The company has a 50 day simple moving average of $17.69 and a two-hundred day simple moving average of $15.72. The company has a market cap of $2.68 billion, a PE ratio of -127.60, a PEG ratio of 1.87 and a beta of 2.12.

Dana (NYSE:DAN - Get Free Report) last released its 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). Dana had a negative net margin of 0.26% and a positive return on equity of 5.65%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $2.55 billion. During the same period last year, the firm earned $0.31 EPS. The company's revenue was down 5.5% compared to the same quarter last year. Sell-side analysts forecast that Dana Incorporated will post 1.5 EPS for the current year.

Dana Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 8th. Dana's payout ratio is -250.00%.

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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