Dana (NYSE:DAN) Hits New 12-Month High - Here's What Happened

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 during mid-day trading on Wednesday . The stock traded as high as $18.71 and last traded at $18.63, with a volume of 3961770 shares changing hands. The stock had previously closed at $17.82.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group restated a "buy" rating and issued a $23.00 price target (up from $22.00) on shares of Dana in a report on Monday, July 14th. JPMorgan Chase & Co. cut their price target on Dana from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Wells Fargo & Company restated a "buy" rating on shares of Dana in a report on Thursday, June 12th. Royal Bank Of Canada restated 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, Cfra Research upgraded Dana from a "moderate sell" rating to a "hold" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Dana currently has an average rating of "Moderate Buy" and an average target price of $21.00.

Dana Stock Down 1.2%

The firm has a market cap of $2.43 billion, a P/E ratio of -115.81, a price-to-earnings-growth ratio of 1.71 and a beta of 2.14. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 2.02. The firm has a fifty day moving average of $17.12 and a 200-day moving average of $15.42.

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 (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.35). Dana had a positive return on equity of 5.65% and a negative net margin of 0.26%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The business's revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Dana Incorporated will post 1.5 earnings per share for the current year.

Dana Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be paid a $0.10 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.40 annualized dividend and a yield of 2.2%. Dana's dividend payout ratio is currently -250.00%.

Insider Transactions at Dana

In other Dana news, CAO James D. Kellett sold 11,728 shares of the company'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 value of $218,727.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Institutional Trading of Dana

Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of Dana in the second quarter valued at approximately $25,000. Sterling Capital Management LLC grew its position in shares of Dana by 829.3% in the fourth quarter. Sterling Capital Management LLC now owns 4,182 shares of the auto parts company's stock valued at $48,000 after purchasing an additional 3,732 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Dana in the second quarter valued at approximately $176,000. Cornerstone Investment Partners LLC acquired a new position in shares of Dana in the first quarter valued at approximately $146,000. Finally, GAMMA Investing LLC grew its position in shares of Dana by 1,495.0% in the first quarter. GAMMA Investing LLC now owns 43,096 shares of the auto parts company's stock valued at $574,000 after purchasing an additional 40,394 shares during the last quarter. 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.