Dana (NYSE:DAN) Sees Large Volume Increase on Analyst Upgrade

Shares of Dana Incorporated (NYSE:DAN - Get Free Report) saw unusually-strong trading volume on Wednesday after Oppenheimer raised their price target on the stock from $17.00 to $18.00. Oppenheimer currently has an outperform rating on the stock. Approximately 1,179,263 shares were traded during mid-day trading, a decline of 6% from the previous session's volume of 1,259,571 shares.The stock last traded at $13.00 and had previously closed at $12.43.

A number of other research analysts also recently weighed in on the stock. Barclays reduced their target price on shares of Dana from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 28th. Wells Fargo & Company reduced their target price on shares of Dana from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Dana from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $16.57.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB grew its stake in Dana by 71.5% in the 4th quarter. Handelsbanken Fonder AB now owns 35,490 shares of the auto parts company's stock valued at $519,000 after buying an additional 14,800 shares in the last quarter. SG Americas Securities LLC purchased a new position in Dana in the 3rd quarter valued at approximately $567,000. Strs Ohio grew its stake in Dana by 1.6% in the 3rd quarter. Strs Ohio now owns 58,000 shares of the auto parts company's stock valued at $850,000 after buying an additional 900 shares in the last quarter. Great Lakes Advisors LLC grew its stake in Dana by 93.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 66,513 shares of the auto parts company's stock valued at $976,000 after buying an additional 32,163 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Dana in the 3rd quarter valued at approximately $1,602,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

Dana Stock Performance

The company's fifty day simple moving average is $12.34 and its 200 day simple moving average is $12.98. The company has a current ratio of 1.58, a quick ratio of 0.93 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $1.92 billion, a P/E ratio of 51.00, a P/E/G ratio of 0.36 and a beta of 2.49.

Dana (NYSE:DAN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Dana had a net margin of 0.36% and a return on equity of 7.37%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Dana Incorporated will post 0.99 earnings per share for the current fiscal year.

Dana Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 10th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.02%. The ex-dividend date is Thursday, May 9th. Dana's payout ratio is 153.85%.

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.