Danaos (NYSE:DAC) Raised to “Buy” at StockNews.com

Danaos (NYSE:DAC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 target price on shares of Danaos in a research note on Tuesday, February 11th.

Danaos Stock Down 1.0 %

Danaos stock traded down $0.78 during midday trading on Monday, reaching $79.92. The company’s stock had a trading volume of 122,859 shares, compared to its average volume of 102,406. Danaos has a fifty-two week low of $69.33 and a fifty-two week high of $98.25. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.52 billion, a P/E ratio of 3.08 and a beta of 1.41. The business has a 50-day simple moving average of $80.13 and a 200-day simple moving average of $81.34.

Danaos (NYSE:DAC) last posted its earnings results on Monday, February 10th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. On average, research analysts expect that Danaos will post 29.21 earnings per share for the current fiscal year.

Institutional Trading of Danaos

Several institutional investors have recently added to or reduced their stakes in DAC. Public Employees Retirement System of Ohio lifted its holdings in Danaos by 20.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,994 shares of the shipping company’s stock worth $400,000 after purchasing an additional 855 shares during the period. Voloridge Investment Management LLC raised its holdings in Danaos by 20.4% during the 4th quarter. Voloridge Investment Management LLC now owns 103,937 shares of the shipping company’s stock worth $8,322,000 after buying an additional 17,643 shares during the period. Vident Advisory LLC raised its holdings in Danaos by 15.7% during the 4th quarter. Vident Advisory LLC now owns 14,148 shares of the shipping company’s stock worth $1,133,000 after buying an additional 1,917 shares during the period. Malaga Cove Capital LLC acquired a new stake in Danaos during the 4th quarter worth about $288,000. Finally, No Street GP LP raised its holdings in Danaos by 11.1% during the 4th quarter. No Street GP LP now owns 250,000 shares of the shipping company’s stock worth $20,018,000 after buying an additional 25,000 shares during the period. Institutional investors own 19.01% of the company’s stock.

About Danaos

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.