Danaos (NYSE:DAC) Upgraded at Freedom Capital

Danaos (NYSE:DAC) was upgraded by Freedom Capital from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings raised Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the stock has an average rating of “Strong Buy”.

Danaos Stock Performance

Shares of DAC opened at $143.33 on Wednesday. The stock has a 50-day moving average of $130.28 and a two-hundred day moving average of $120.33. Danaos has a one year low of $83.56 and a one year high of $145.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 8.40 and a current ratio of 9.30. The stock has a market cap of $2.61 billion, a P/E ratio of 4.85 and a beta of 0.89.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Monday, August 3rd. The shipping company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.80 by $0.49. The business had revenue of $274.37 million for the quarter, compared to the consensus estimate of $258.27 million. Danaos had a return on equity of 13.20% and a net margin of 51.26%.

Institutional Investors Weigh In On Danaos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Danaos in the 1st quarter valued at about $223,000. Goldman Sachs Group Inc. grew its holdings in Danaos by 183.6% during the first quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock worth $3,606,000 after acquiring an additional 29,921 shares during the period. JPMorgan Chase & Co. raised its position in Danaos by 39.8% during the second quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company’s stock valued at $7,144,000 after acquiring an additional 23,593 shares in the last quarter. Marshall Wace LLP purchased a new position in Danaos during the second quarter valued at approximately $276,000. Finally, Jump Financial LLC acquired a new position in Danaos in the second quarter valued at approximately $1,682,000. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Company Profile

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.