Danaos’ (DAC) Buy Rating Reaffirmed at Jefferies Financial Group

Danaos (NYSE:DAC)‘s stock had its “buy” rating restated by investment analysts at Jefferies Financial Group in a note issued to investors on Tuesday,Benzinga reports. They currently have a $105.00 price target on the shipping company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 29.71% from the company’s current price.

Separately, StockNews.com downgraded shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Danaos Price Performance

Shares of DAC opened at $80.95 on Tuesday. Danaos has a twelve month low of $69.33 and a twelve month high of $98.25. The stock’s 50 day moving average is $79.21 and its two-hundred day moving average is $81.49. The firm has a market capitalization of $1.57 billion, a PE ratio of 2.80 and a beta of 1.42. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 earnings per share for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.02). Danaos had a net margin of 56.16% and a return on equity of 16.68%. Research analysts anticipate that Danaos will post 26.95 earnings per share for the current year.

Institutional Investors Weigh In On Danaos

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new position in shares of Danaos during the 3rd quarter worth approximately $53,000. nVerses Capital LLC raised its position in shares of Danaos by 75.0% during the 3rd quarter. nVerses Capital LLC now owns 700 shares of the shipping company’s stock worth $61,000 after purchasing an additional 300 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Danaos by 37.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock worth $117,000 after purchasing an additional 400 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Danaos by 297.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,870 shares of the shipping company’s stock worth $162,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Danaos by 340.1% during the 4th quarter. Allworth Financial LP now owns 1,941 shares of the shipping company’s stock worth $149,000 after purchasing an additional 1,500 shares during the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

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.