Dana Incorporated (NYSE:DAN) is 0.52 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 3.89% to $13.88 from its previous close of $13.36. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 219420 contracts so far this session. DAN shares had a relatively better volume day versus average trading capacity of 1.89 million shares, but with a 0.14 billion float and a -2.41% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DAN stock indicates that the average analyst price target is $20.89 per share. This means the stock has a potential increase of 50.5% from where the DAN share price has been trading recently which is between $13.15 and $13.47. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $14. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $24.
During the recent trading session for Dana Incorporated (NYSE:DAN), the company witnessed their stock rise $0.12 over a week and tumble down $-0.52 from the price 20 days ago. When compared to their established 52-week high of $20.96, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/17/19. The recent low of $11.57 stood for a -33.78% since 08/28/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.22 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for DAN is set at $20.5, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Dana Incorporated, the two-week RSI stands at 48.73. This figure suggests that DAN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current DAN readings is similarly very revealing as it has a stochastic reading of 20.82% at this stage. This figure means that DAN share price today is being overbought.
Technical chart claims that Dana Incorporated (DAN) would settle between $13.5/share to $13.65/share level. However, if the stock price goes below the $13.18 mark, then the market for Dana Incorporated becomes much weaker. If that happens, the stock price might even plunge as low as $13.01 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.28. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill raised their recommendation on shares of DAN from Neutral to Buy in their opinion released on September 13. Credit Suisse, analysts launched coverage of Dana Incorporated (NYSE:DAN) stock with a Outperform recommendation, according to their flash note issued to investors on June 27. Analysts at Wolfe Research lowered the stock to a Peer Perform call from its previous Outperform recommendation, in a research note that dated back to April 18.
DAN equity has an average rating of 2.75, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated Dana Incorporated (NYSE:DAN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, DAN stock price is currently trading at 4.13X forward 12-month Consensus EPS estimates, and its P/E ratio is 8.7 while for the average stock in the same group, the multiple is 15.7. Dana Incorporated current P/B ratio of 1.1 means it is trading at a discount against its industry’s 2.3.
Dana Incorporated (DAN)’s current-quarter revenues are projected to climb by nearly 10.8% to hit $2.19 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 8.5% from $8.14 billion to a noteworthy $8.83 billion. At the other end of the current quarter income statement, Dana Incorporated is expected to see its adjusted earnings surge by roughly -1.3% to hit $0.76 per share. For the fiscal year, DAN’s earnings are projected to climb by roughly 4.7% to hit $3.11 per share.