Dana (NYSE:DAN) Hits New 1-Year High - Here's Why

Dana Incorporated (NYSE:DAN - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $18.05 and last traded at $17.86, with a volume of 572542 shares traded. The stock had previously closed at $17.78.

Wall Street Analysts Forecast Growth

DAN has been the topic of a number of research reports. Wall Street Zen raised shares of Dana from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Barclays reissued an "overweight" rating and set a $25.00 price objective (up from $20.00) on shares of Dana in a report on Thursday, June 12th. UBS Group reissued a "buy" rating and set a $22.00 price objective (up from $20.00) on shares of Dana in a report on Friday, June 13th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $24.00 price target (up from $20.00) on shares of Dana in a report on Thursday, June 12th. Finally, Wells Fargo & Company reaffirmed a "buy" rating on shares of Dana in a report on Thursday, June 12th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.43.

Dana Price Performance

The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.85 and a current ratio of 1.43. The business's 50 day simple moving average is $16.39 and its 200-day simple moving average is $14.51. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -74.38, a price-to-earnings-growth ratio of 1.14 and a beta of 2.09.

Dana (NYSE:DAN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The auto parts company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.28 billion. Dana had a negative net margin of 0.35% and a positive return on equity of 7.96%. The company's revenue for the quarter was down 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. Research analysts anticipate that Dana Incorporated will post 1.5 earnings per share for the current year.

Dana Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, May 31st. Shareholders of record on Saturday, May 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.24%. Dana's dividend payout ratio (DPR) is -166.67%.

Institutional Trading of Dana

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Dana by 1,495.0% during the 1st quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company's stock worth $574,000 after buying an additional 40,394 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Dana by 3.8% during the 1st quarter. SG Americas Securities LLC now owns 44,968 shares of the auto parts company's stock worth $599,000 after buying an additional 1,662 shares in the last quarter. JB Capital Partners LP raised its holdings in shares of Dana by 28.6% in the 4th quarter. JB Capital Partners LP now owns 1,832,293 shares of the auto parts company's stock worth $21,181,000 after purchasing an additional 407,000 shares in the last quarter. Great Lakes Advisors LLC raised its holdings in shares of Dana by 103.6% in the 4th quarter. Great Lakes Advisors LLC now owns 280,798 shares of the auto parts company's stock worth $3,246,000 after purchasing an additional 142,850 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Dana in the 4th quarter worth approximately $9,498,000. 96.79% of the stock is currently owned by institutional investors.

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.