Danaos' (DAC) "Buy" Rating Reiterated at Jefferies Financial Group

Danaos (NYSE:DAC - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Jefferies Financial Group in a report issued on Tuesday,Benzinga reports. They presently have a $105.00 price target on the shipping company's stock. Jefferies Financial Group's price target would suggest a potential upside of 25.41% from the stock's current price.

Separately, StockNews.com lowered Danaos from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th.

Danaos Trading Up 1.5 %

NYSE:DAC traded up $1.21 during mid-day trading on Tuesday, hitting $83.73. The company had a trading volume of 75,216 shares, compared to its average volume of 113,366. Danaos has a fifty-two week low of $69.33 and a fifty-two week high of $98.25. The business's fifty day moving average is $79.33 and its two-hundred day moving average is $81.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The firm has a market cap of $1.63 billion, a P/E ratio of 2.89 and a beta of 1.42.

Danaos (NYSE:DAC - Get Free Report) last released its earnings results on Monday, February 10th. The shipping company reported $6.50 earnings per share for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a net margin of 56.16% and a return on equity of 16.68%. As a group, research analysts expect that Danaos will post 26.95 earnings per share for the current year.

Institutional Investors Weigh In On Danaos

A number of hedge funds have recently modified their holdings of DAC. Summit Securities Group LLC acquired a new stake in Danaos in the 4th quarter valued at approximately $32,000. Farther Finance Advisors LLC acquired a new stake in Danaos in the 3rd quarter valued at approximately $53,000. nVerses Capital LLC raised its position in Danaos by 75.0% in the 3rd quarter. nVerses Capital LLC now owns 700 shares of the shipping company's stock valued at $61,000 after buying an additional 300 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Danaos in the 4th quarter valued at approximately $87,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Danaos by 37.7% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company's stock valued at $117,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds 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.