Dana (NYSE:DAN) Shares Gap Up – Here’s Why

Dana Incorporated (NYSE:DAN) shares gapped up before the market opened on Tuesday . The stock had previously closed at $8.88, but opened at $9.25. Dana shares last traded at $9.38, with a volume of 634,790 shares.

Wall Street Analysts Forecast Growth

Several analysts have commented on DAN shares. StockNews.com cut shares of Dana from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Wolfe Research began coverage on Dana in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Wells Fargo & Company decreased their target price on Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, October 31st. Barclays reduced their price objective on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Dana from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Dana currently has a consensus rating of “Hold” and an average price target of $12.50.

Dana Price Performance

The company has a 50-day moving average of $9.70 and a 200-day moving average of $11.20. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.86 and a current ratio of 1.49. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -80.77, a price-to-earnings-growth ratio of 0.83 and a beta of 2.30.

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

Dana Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 8th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Friday, November 8th. Dana’s dividend payout ratio is -363.60%.

Institutional Trading of Dana

Institutional investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new stake in Dana in the 3rd quarter valued at approximately $2,687,000. Rhumbline Advisers raised its holdings in shares of Dana by 1.3% in the second 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 last quarter. SG Americas Securities LLC bought a new stake in shares of Dana in the second quarter worth $388,000. Entropy Technologies LP bought a new stake in shares of Dana in the third quarter worth $250,000. Finally, Martingale Asset Management L P acquired a new position in Dana during the third quarter worth $346,000. 96.79% of the stock is currently owned by institutional investors.

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.