Dana (DAN) Board Authorizes Stock Buyback Plan

Dana (NYSE:DAN) declared that its Board of Directors has initiated a stock buyback plan, which allows the company to buyback $100.00 million in outstanding shares on Wednesday, January 17th, EventVestor reports. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Shares of Dana (NYSE DAN) traded up $0.62 on Thursday, reaching $34.55. 1,083,000 shares of the company’s stock traded hands, compared to its average volume of 1,574,227. The firm has a market capitalization of $4,915.47, a P/E ratio of 7.23 and a beta of 1.68. Dana has a 52 week low of $17.53 and a 52 week high of $35.27. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 1.36.

Dana (NYSE:DAN) last announced its earnings results on Thursday, October 26th. The auto parts company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.71 billion. Dana had a net margin of 10.27% and a return on equity of 29.34%. Dana’s revenue was up 32.3% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. research analysts anticipate that Dana will post 2.45 earnings per share for the current fiscal year.

Several brokerages recently issued reports on DAN. FBR & Co reissued a “neutral” rating and set a $25.00 price objective (up from $17.00) on shares of Dana in a report on Friday, October 27th. Royal Bank of Canada reissued a “buy” rating on shares of Dana in a report on Friday, October 27th. Barclays set a $28.00 price objective on shares of Dana and gave the company a “hold” rating in a report on Friday, October 20th. Guggenheim reissued a “buy” rating and set a $40.00 price objective on shares of Dana in a report on Wednesday, January 10th. Finally, B. Riley reissued a “neutral” rating on shares of Dana in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $29.50.

In other news, EVP Mark E. Wallace sold 36,603 shares of Dana stock in a transaction on Monday, October 30th. The shares were sold at an average price of $29.68, for a total transaction of $1,086,377.04. Following the completion of the sale, the executive vice president now directly owns 108,239 shares in the company, valued at $3,212,533.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Kevin Kamsickas sold 57,003 shares of Dana stock in a transaction on Friday, November 17th. The stock was sold at an average price of $31.01, for a total transaction of $1,767,663.03. Following the sale, the chief executive officer now owns 96,312 shares of the company’s stock, valued at $2,986,635.12. The disclosure for this sale can be found here. Insiders have sold 124,085 shares of company stock valued at $3,776,775 over the last quarter. Insiders own 1.60% of the company’s stock.

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Dana Company Profile

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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