Dana (NYSE:DAN) Reaches New 52-Week High Following Analyst Upgrade

Dana Incorporated (NYSE:DAN)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $21.00 to $23.00. Wells Fargo & Company currently has an equal weight rating on the stock. Dana traded as high as $22.91 and last traded at $22.7010, with a volume of 1366896 shares trading hands. The stock had previously closed at $21.64.

A number of other equities analysts also recently commented on the stock. Zacks Research downgraded shares of Dana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. UBS Group boosted their price target on shares of Dana from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Barclays increased their price target on shares of Dana from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. JPMorgan Chase & Co. lifted their price objective on Dana from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Finally, Royal Bank Of Canada increased their target price on Dana from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.40.

Institutional Investors Weigh In On Dana

A number of institutional investors and hedge funds have recently bought and sold shares of DAN. FNY Investment Advisers LLC acquired a new stake in Dana during the 2nd quarter valued at $25,000. Captrust Financial Advisors acquired a new position in shares of Dana in the second quarter worth $176,000. SG Americas Securities LLC purchased a new stake in shares of Dana in the third quarter valued at $488,000. Horizon Investments LLC acquired a new stake in shares of Dana during the third quarter valued at $553,000. Finally, Entropy Technologies LP increased its position in Dana by 266.2% during the 3rd quarter. Entropy Technologies LP now owns 37,303 shares of the auto parts company’s stock worth $748,000 after purchasing an additional 27,116 shares in the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Dana Stock Up 4.9%

The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 50.45, a P/E/G ratio of 3.96 and a beta of 2.16. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 2.23. The firm’s 50 day moving average is $20.51 and its two-hundred day moving average is $18.97.

Dana (NYSE:DAN) last issued its quarterly earnings results on Wednesday, October 29th. The auto parts company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.09). The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Dana had a return on equity of 6.35% and a net margin of 0.64%.The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. On average, sell-side analysts predict that Dana Incorporated will post 1.5 EPS for the current year.

Dana Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.8%. Dana’s payout ratio is currently 88.89%.

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.