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

Dana Incorporated (NYSE:DAN - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $11.29, but opened at $11.76. Dana shares last traded at $11.60, with a volume of 42,813 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DAN. Royal Bank of Canada raised their price objective on shares of Dana from $13.00 to $16.00 and gave the company a "sector perform" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price objective on shares of Dana from $14.00 to $20.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. StockNews.com downgraded shares of Dana from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Wells Fargo & Company upgraded Dana from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $10.00 to $16.00 in a report on Monday, January 27th. Finally, Barclays downgraded Dana from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $17.50.

Dana Stock Performance

The stock has a market cap of $1.88 billion, a P/E ratio of -33.02, a P/E/G ratio of 0.72 and a beta of 2.26. The firm has a 50 day moving average of $13.40 and a two-hundred day moving average of $12.29. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 1.45.

Dana (NYSE:DAN - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The auto parts company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.15. Dana had a positive return on equity of 6.70% and a negative net margin of 0.55%. The company had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.33 billion. On average, research analysts predict that Dana Incorporated will post 1.5 EPS for the current fiscal year.

Dana Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, May 31st. Stockholders of record on Saturday, May 10th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.11%. Dana's dividend payout ratio is currently -102.56%.

Hedge Funds Weigh In On Dana

Several large investors have recently added to or reduced their stakes in DAN. JB Capital Partners LP increased its position in shares of Dana by 28.6% during the fourth quarter. JB Capital Partners LP now owns 1,832,293 shares of the auto parts company's stock valued at $21,181,000 after purchasing an additional 407,000 shares during the period. Great Lakes Advisors LLC boosted its stake in Dana by 103.6% in the 4th quarter. Great Lakes Advisors LLC now owns 280,798 shares of the auto parts company's stock valued at $3,246,000 after buying an additional 142,850 shares in the last quarter. Yousif Capital Management LLC grew its position in Dana by 2.0% in the fourth quarter. Yousif Capital Management LLC now owns 56,818 shares of the auto parts company's stock valued at $657,000 after acquiring an additional 1,130 shares during the period. GAMMA Investing LLC raised its stake in Dana by 118.3% during the fourth quarter. GAMMA Investing LLC now owns 2,702 shares of the auto parts company's stock worth $31,000 after acquiring an additional 1,464 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in shares of Dana during the fourth quarter valued at $9,498,000. Institutional investors and hedge funds 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.