Dana (NYSE:DAN) Shares Gap Down to $10.47

Dana Incorporated (NYSE:DAN) gapped down before the market opened on Friday . The stock had previously closed at $10.47, but opened at $9.84. Dana shares last traded at $9.73, with a volume of 552,951 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DAN shares. JPMorgan Chase & Co. decreased their price objective on shares of Dana from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Barclays boosted their price objective on Dana from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Wells Fargo & Company cut Dana from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $13.00 to $9.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $12.00 target price on shares of Dana in a research note on Tuesday, September 10th. Finally, Wolfe Research began coverage on shares of Dana in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Dana currently has a consensus rating of “Hold” and an average price target of $14.00.

Dana Stock Down 6.6 %

The business’s fifty day moving average is $11.01 and its two-hundred day moving average is $12.13. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 108.11, a PEG ratio of 0.49 and a beta of 2.29. The company has a quick ratio of 0.90, a current ratio of 1.48 and a debt-to-equity ratio of 1.55.

Dana (NYSE:DAN) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. Dana had a positive return on equity of 4.98% and a negative net margin of 0.01%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the business posted $0.37 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts forecast that Dana Incorporated will post 0.98 earnings per share for the current fiscal year.

Dana Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Friday, August 9th. Dana’s payout ratio is currently 444.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DAN. Rhumbline Advisers grew its holdings in Dana by 1.3% during the second quarter. Rhumbline Advisers now owns 426,586 shares of the auto parts company’s stock worth $5,170,000 after acquiring an additional 5,468 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Dana during the 2nd quarter worth $388,000. Finally, Cibc World Markets Corp grew its stake in shares of Dana by 46.0% during the 4th quarter. Cibc World Markets Corp now owns 1,190,000 shares of the auto parts company’s stock worth $17,386,000 after purchasing an additional 375,000 shares during the period. 96.79% of the stock is owned by hedge funds and other institutional investors.

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.