Dana (NYSE:DAN) Shares Gap Up – Still a Buy?

Dana Incorporated (NYSE:DAN)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.00, but opened at $10.78. Dana shares last traded at $11.42, with a volume of 839,147 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Wolfe Research began coverage on Dana in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their price objective on Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $12.00 price target on shares of Dana in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Dana from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.50.

Dana Stock Up 14.1 %

The company has a 50-day moving average of $9.68 and a 200-day moving average of $11.09. The company has a current ratio of 1.49, a quick ratio of 0.86 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -104.36, a price-to-earnings-growth ratio of 0.97 and a beta of 2.30.

Dana (NYSE:DAN) last issued its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the firm posted $0.30 EPS. The business’s revenue was down 7.2% compared to the same quarter last year. On average, equities analysts predict that Dana Incorporated will post 0.85 earnings per share for the current fiscal year.

Dana Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 8th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.40 annualized dividend and a yield of 3.51%. Dana’s dividend payout ratio (DPR) is currently -363.64%.

Institutional Investors Weigh In On Dana

A number of hedge funds have recently modified their holdings of DAN. Segall Bryant & Hamill LLC acquired a new stake in Dana in the 3rd quarter valued at about $2,687,000. JB Capital Partners LP raised its holdings in Dana by 9.9% during the third quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company’s stock worth $14,880,000 after purchasing an additional 128,000 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Dana by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock valued at $5,170,000 after purchasing an additional 5,468 shares during the period. SG Americas Securities LLC acquired a new position in Dana in the second quarter valued at $388,000. Finally, Entropy Technologies LP acquired a new position in shares of Dana in the third quarter valued at approximately $250,000. Hedge funds and other 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.