Danaos (NYSE:DAC) Given Buy Rating at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Danaos (NYSE:DAC) in a research report released on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a $105.00 price target on the shipping company’s stock.

Danaos Stock Performance

Shares of NYSE DAC opened at $82.69 on Tuesday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 2.82 and a beta of 1.47. Danaos has a one year low of $62.60 and a one year high of $98.25. The business has a fifty day simple moving average of $82.65 and a 200 day simple moving average of $85.08. The company has a current ratio of 4.18, a quick ratio of 4.04 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Danaos

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in Danaos by 32.5% during the first quarter. Russell Investments Group Ltd. now owns 38,758 shares of the shipping company’s stock worth $2,819,000 after purchasing an additional 9,506 shares during the period. Acadian Asset Management LLC lifted its position in shares of Danaos by 41.3% during the 1st quarter. Acadian Asset Management LLC now owns 591,001 shares of the shipping company’s stock worth $42,647,000 after buying an additional 172,832 shares during the period. BNP Paribas Financial Markets grew its position in Danaos by 88.4% in the first quarter. BNP Paribas Financial Markets now owns 18,961 shares of the shipping company’s stock valued at $1,369,000 after acquiring an additional 8,897 shares during the period. Gordian Capital Singapore Pte Ltd raised its stake in Danaos by 17,600,000.0% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock worth $16,255,000 after acquiring an additional 176,000 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Danaos by 55.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 24,694 shares of the shipping company’s stock valued at $1,783,000 after purchasing an additional 8,839 shares in the last quarter. 19.01% of the stock is owned by institutional investors.

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.