Danaos (NYSE:DAC) Stock Rating Lowered by StockNews.com

Danaos (NYSE:DAC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $105.00 price target on shares of Danaos in a report on Tuesday.

Danaos Stock Up 4.2 %

DAC opened at $86.13 on Tuesday. The company has a 50 day moving average of $82.71 and a 200 day moving average of $85.13. The company has a market cap of $1.67 billion, a PE ratio of 2.98 and a beta of 1.47. Danaos has a 12 month low of $64.96 and a 12 month high of $98.25. The company has a current ratio of 4.18, a quick ratio of 4.04 and a debt-to-equity ratio of 0.17.

Danaos (NYSE:DAC) last released its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing the consensus estimate of $6.86 by ($0.36). Danaos had a return on equity of 17.00% and a net margin of 56.16%. The business had revenue of $256.18 million during the quarter, compared to the consensus estimate of $251.16 million. During the same period last year, the business posted $7.26 earnings per share. On average, sell-side analysts expect that Danaos will post 28.01 EPS for the current year.

Institutional Trading of Danaos

Several institutional investors and hedge funds have recently made changes to their positions in DAC. nVerses Capital LLC purchased a new stake in shares of Danaos during the 2nd quarter valued at $37,000. Farther Finance Advisors LLC purchased a new position in Danaos in the 3rd quarter worth $53,000. Signaturefd LLC raised its position in Danaos by 21.4% in the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock worth $64,000 after purchasing an additional 122 shares during the period. Mather Group LLC. purchased a new position in Danaos in the 2nd quarter worth $76,000. Finally, Blue Trust Inc. raised its position in Danaos by 7,620.0% in the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock worth $107,000 after purchasing an additional 1,143 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Danaos Company Profile

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.