Dana (NYSE:DAN) Sets New 52-Week High on 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.

Dana Incorporated (NYSE:DAN - Get Free Report) hit 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.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company reissued a "buy" rating on shares of Dana in a research note on Thursday, June 12th. Barclays reiterated an "overweight" rating and issued a $25.00 target price (up from $20.00) on shares of Dana in a report 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. dropped their target price on shares of Dana from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Finally, UBS Group reiterated a "buy" rating and set a $23.00 price objective (up from $22.00) on shares of Dana in a research report on Monday, July 14th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.29.

Insider Activity at Dana

In related news, CAO James D. Kellett sold 11,728 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $18.65, for a total transaction of $218,727.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Institutional Trading of Dana

Institutional investors and hedge funds have recently made changes to their positions in the company. JB Capital Partners LP lifted its holdings in shares of Dana by 1.1% during the first quarter. JB Capital Partners LP now owns 1,852,293 shares of the auto parts company's stock worth $24,524,000 after purchasing an additional 20,000 shares during the period. Loomis Sayles & Co. L P lifted its position in Dana by 4.2% during the 2nd quarter. Loomis Sayles & Co. L P now owns 1,102,729 shares of the auto parts company's stock worth $18,912,000 after acquiring an additional 44,010 shares during the period. Rhumbline Advisers increased its position in Dana by 2.2% during the second quarter. Rhumbline Advisers now owns 401,017 shares of the auto parts company's stock worth $6,877,000 after buying an additional 8,787 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in Dana by 11.5% in the first quarter. Great Lakes Advisors LLC now owns 313,039 shares of the auto parts company's stock valued at $4,173,000 after acquiring an additional 32,241 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Dana by 6.4% in the second quarter. Segall Bryant & Hamill LLC now owns 194,338 shares of the auto parts company's stock worth $3,333,000 after acquiring an additional 11,711 shares in the last quarter. 96.79% of the stock is currently owned by institutional investors.

Dana Price Performance

The business has a fifty day moving average of $17.90 and a 200-day moving average of $15.80. 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 firm has a market capitalization of $2.71 billion, a P/E ratio of -129.47, a price-to-earnings-growth ratio of 1.91 and a beta of 2.12.

Dana (NYSE:DAN - Get Free Report) last posted its earnings results on Monday, August 11th. The auto parts company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.35). The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.55 billion. Dana had a positive return on equity of 5.65% and a negative net margin of 0.26%.The company'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. On average, sell-side analysts forecast that Dana Incorporated will post 1.5 EPS for the current fiscal year.

Dana Announces Dividend

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

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.