Dana Incorporated (DAN) Reaches New 1-Year High at $25.17
Dana Incorporated (NYSE:DAN) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $25.17 and last traded at $25.16, with a volume of 447,908 shares traded. The stock had previously closed at $24.92.
A number of brokerages have recently commented on DAN. Buckingham Research upped their price target on Dana from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. BidaskClub upgraded Dana from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. CLSA began coverage on Dana in a research note on Thursday, June 22nd. They issued a “buy” rating and a $27.00 target price for the company. Susquehanna Bancshares Inc lowered Dana from a “neutral” rating to a “negative” rating and set a $19.00 target price for the company. in a research note on Thursday, July 13th. Finally, Zacks Investment Research upgraded Dana from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Dana presently has a consensus rating of “Hold” and an average target price of $23.50.
The company’s 50-day moving average price is $23.66 and its 200 day moving average price is $21.25. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 5.33 and a beta of 1.49.
Dana (NYSE:DAN) last released its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.17. The business had revenue of $18.40 million during the quarter, compared to the consensus estimate of $1.67 billion. Dana had a return on equity of 30.79% and a net margin of 10.80%. The firm’s quarterly revenue was down 98.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Equities research analysts predict that Dana Incorporated will post $2.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a $0.06 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $0.24 annualized dividend and a yield of 0.96%. Dana’s dividend payout ratio (DPR) is presently 5.10%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Dana by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,055 shares of the auto parts company’s stock valued at $113,000 after purchasing an additional 520 shares during the period. ETRADE Capital Management LLC bought a new stake in Dana in the 2nd quarter valued at $205,000. US Bancorp DE boosted its stake in Dana by 15.0% in the 1st quarter. US Bancorp DE now owns 9,476 shares of the auto parts company’s stock valued at $183,000 after purchasing an additional 1,233 shares during the period. Riverhead Capital Management LLC boosted its stake in Dana by 70.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,056 shares of the auto parts company’s stock valued at $225,000 after purchasing an additional 4,156 shares during the period. Finally, Oakbrook Investments LLC boosted its stake in Dana by 2.9% in the 2nd quarter. Oakbrook Investments LLC now owns 10,700 shares of the auto parts company’s stock valued at $239,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.
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Dana Incorporated, formerly Dana Holding Corporation, is a global provider of technology driveline, sealing and thermal-management products. The Company operates in four segments: Light Vehicle Driveline Technologies (Light Vehicle), Commercial Vehicle Driveline Technologies (Commercial Vehicle), Off-Highway Driveline Technologies (Off-Highway) and Power Technologies.
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