StockNews.com Downgrades Danaos (NYSE:DAC) to Hold

StockNews.com downgraded shares of Danaos (NYSE:DAC) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research note on Tuesday.

Danaos Price Performance

Shares of Danaos stock opened at $82.69 on Tuesday. The firm has a market cap of $1.61 billion, a PE ratio of 2.82 and a beta of 1.47. Danaos has a 12 month low of $62.60 and a 12 month high of $98.25. The stock has a 50 day moving average of $82.65 and a 200 day 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.

Institutional Investors Weigh In On Danaos

Institutional investors have recently modified their holdings of the stock. Avior Wealth Management LLC raised its holdings in shares of Danaos by 297.9% in the third quarter. Avior Wealth Management LLC now owns 1,870 shares of the shipping company’s stock worth $162,000 after buying an additional 1,400 shares during the period. Chesapeake Capital Corp IL raised its holdings in shares of Danaos by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 5,712 shares of the shipping company’s stock worth $491,000 after buying an additional 1,246 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Danaos in the third quarter worth approximately $935,000. CWA Asset Management Group LLC purchased a new stake in shares of Danaos in the third quarter worth approximately $445,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Danaos by 2.9% in the third quarter. Janney Montgomery Scott LLC now owns 26,908 shares of the shipping company’s stock worth $2,334,000 after buying an additional 766 shares during the period. 19.01% of the stock is owned by institutional investors.

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.