Dana (NYSE:DAN) Shares Gap Up - Here's What Happened

Dana Incorporated (NYSE:DAN - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $12.07, but opened at $13.12. Dana shares last traded at $12.83, with a volume of 236,790 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays raised shares of Dana from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $12.00 to $18.00 in a research report on Monday, December 2nd. StockNews.com downgraded Dana from a "buy" rating to a "hold" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on Dana from $16.00 to $14.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. UBS Group upgraded Dana from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $11.00 to $18.00 in a research note on Thursday. Finally, BNP Paribas raised Dana from a "neutral" rating to an "outperform" rating and upped their price target for the company from $9.00 to $16.00 in a report 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.14.

Dana Trading Up 0.7 %

The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -117.68 and a beta of 2.31. The business has a 50-day moving average of $10.92 and a 200-day moving average of $10.80. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.86 and a current ratio of 1.49.

Dana (NYSE:DAN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The auto parts company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.13). The business had revenue of $2.48 billion for the quarter, compared to analysts' expectations 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 revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. As a group, research analysts forecast that Dana Incorporated will post 0.85 EPS for the current year.

Dana Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 8th were paid a $0.10 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.40 dividend on an annualized basis and a yield of 3.09%. Dana's dividend payout ratio is presently -363.60%.

Institutional Investors Weigh In On Dana

Several hedge funds have recently made changes to their positions in the business. JB Capital Partners LP increased its position in Dana by 9.9% in the 3rd quarter. JB Capital Partners LP now owns 1,425,293 shares of the auto parts company's stock valued at $14,880,000 after acquiring an additional 128,000 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Dana in the 3rd quarter valued at approximately $2,687,000. SG Americas Securities LLC increased its holdings in shares of Dana by 81.8% in the third quarter. SG Americas Securities LLC now owns 58,274 shares of the auto parts company's stock valued at $615,000 after purchasing an additional 26,225 shares during the period. Martingale Asset Management L P purchased a new stake in shares of Dana during the third quarter worth approximately $346,000. Finally, Entropy Technologies LP acquired a new stake in shares of Dana during the third quarter worth $250,000. 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.