Dana (NYSE:DAN) Sets New 1-Year High - What's Next?

Key Points

• Dana Incorporated's stock reached a new 52-week high at $18.71, closing at $18.63 with a significant trading volume of 3,961,770 shares.
• Several analysts have provided updated price targets, with Royal Bank of Canada setting an objective of $24.00 and Barclays raising their target to $25.00.
• The company reported quarterly earnings of $0.05 per share, missing estimates by $0.35, with revenues falling short at $1.94 billion compared to the projected $2.55 billion.

Dana Incorporated (NYSE:DAN - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $18.71 and last traded at $18.63, with a volume of 3961770 shares. The stock had previously closed at $17.82.

Analysts Set New Price Targets

DAN has been the topic of several research reports. Royal Bank Of Canada restated an "outperform" rating and set a $24.00 price objective (up previously from $20.00) on shares of Dana in a report on Thursday, June 12th. JPMorgan Chase & Co. lowered 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. Cfra Research upgraded shares of Dana from a "moderate sell" rating to a "hold" rating in a report on Tuesday, August 5th. Barclays reiterated an "overweight" rating and issued a $25.00 target price (up previously from $20.00) on shares of Dana in a report on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of Dana from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Dana Stock Performance

The company has a market cap of $2.71 billion, a P/E ratio of -116.43, a price-to-earnings-growth ratio of 1.65 and a beta of 2.14. The company's 50-day moving average is $16.99 and its two-hundred day moving average is $15.36. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 1.68.

Dana (NYSE:DAN - Get Free Report) last posted 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 company 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 5.47%. Dana's quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. Equities analysts predict that Dana Incorporated will post 1.5 EPS for the current year.

Dana Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 8th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, August 8th. This represents a $0.40 annualized dividend and a yield of 2.1%. Dana's dividend payout ratio is presently -166.67%.

Hedge Funds Weigh In On Dana

Several institutional investors have recently added to or reduced their stakes in the stock. JB Capital Partners LP grew its position in 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 valued at $24,524,000 after buying an additional 20,000 shares during the period. Rhumbline Advisers increased its stake in shares of Dana by 2.2% in the second quarter. Rhumbline Advisers now owns 401,017 shares of the auto parts company's stock worth $6,877,000 after purchasing an additional 8,787 shares in the last quarter. Great Lakes Advisors LLC raised its position in shares of 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 purchasing an additional 32,241 shares during the period. Segall Bryant & Hamill LLC raised its position 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 valued at $3,333,000 after purchasing an additional 11,711 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of Dana by 27,790.5% in the first quarter. Jones Financial Companies Lllp now owns 85,345 shares of the auto parts company's stock valued at $1,138,000 after purchasing an additional 85,039 shares during the period. Institutional investors own 96.79% of the company's stock.

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.

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