Dana (NYSE:DAN) Shares Gap Up – Time to Buy?

Dana Incorporated (NYSE:DAN)’s share price 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 trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Dana from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Barclays lowered their price objective on shares of Dana from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $12.00 price objective on shares of Dana in a research report on Tuesday, September 10th. Wells Fargo & Company lowered their price objective on shares of Dana from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Thursday, October 31st. Finally, Wolfe Research started coverage on shares of Dana in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.50.

Dana Stock Performance

The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -91.45, a price-to-earnings-growth ratio of 0.86 and a beta of 2.30. 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 stock’s 50 day moving average is $9.69 and its two-hundred day moving average is $11.17.

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

Dana Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.95%. Dana’s dividend payout ratio is -363.60%.

Hedge Funds Weigh In On Dana

A number of large investors 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. Rhumbline Advisers raised its holdings in 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 acquiring an additional 5,468 shares during the period. SG Americas Securities LLC bought a new position in Dana in the 2nd quarter valued at about $388,000. Entropy Technologies LP bought a new position in Dana in the 3rd quarter valued at about $250,000. Finally, Martingale Asset Management L P bought a new position in Dana in the 3rd quarter valued at about $346,000. 96.79% of the stock is currently owned by institutional investors and hedge funds.

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.