Dana (NYSE:DAN) Sets New 52-Week High – Here’s Why

Dana Incorporated (NYSE:DAN)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.16 and last traded at $16.01, with a volume of 146334 shares changing hands. The stock had previously closed at $13.23.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DAN. Deutsche Bank Aktiengesellschaft upgraded Dana from a “hold” rating to a “buy” rating and lifted their price target for the company from $9.00 to $19.00 in a report on Monday, December 9th. Wells Fargo & Company raised their price objective on Dana from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, December 16th. UBS Group raised Dana from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $18.00 in a research note on Thursday, January 16th. StockNews.com downgraded Dana from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, BNP Paribas raised Dana from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $9.00 to $16.00 in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Dana presently has an average rating of “Moderate Buy” and an average price target of $16.14.

Dana Trading Up 18.4 %

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 company has a 50-day simple moving average of $11.29 and a 200 day simple moving average of $10.83. The company has a market capitalization of $2.27 billion, a P/E ratio of -141.73 and a beta of 2.31.

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 the consensus estimate of $0.25 by ($0.13). The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.57 billion. Dana had a positive return on equity of 3.48% and a negative net margin of 0.15%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Sell-side analysts expect that Dana Incorporated will post 0.85 earnings per share for the current year.

Institutional Trading of Dana

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Dana by 484.6% during the 4th quarter. Versant Capital Management Inc now owns 2,695 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 2,234 shares in the last quarter. GAMMA Investing LLC boosted its stake in Dana by 118.3% in the 4th quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company’s stock valued at $31,000 after buying an additional 1,464 shares in the last quarter. Entropy Technologies LP acquired a new stake in Dana in the 3rd quarter valued at $250,000. Martingale Asset Management L P acquired a new stake in Dana in the 3rd quarter valued at $346,000. Finally, SG Americas Securities LLC boosted its stake in Dana by 81.8% in the 3rd quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company’s stock valued at $615,000 after buying an additional 26,225 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.