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

Danaos (NYSE:DAC)‘s stock had its “buy” rating reiterated by Jefferies Financial Group in a report released on Tuesday,Benzinga reports. They currently have a $105.00 target price on the shipping company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 29.71% from the stock’s current price.

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

Danaos Trading Up 1.1 %

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

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 earnings per share (EPS) 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, analysts forecast that Danaos will post 26.95 EPS for the current year.

Institutional Trading of Danaos

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new stake in shares of Danaos in the 3rd quarter valued at about $53,000. nVerses Capital LLC raised its stake in shares of 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 purchasing an additional 300 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of 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 purchasing an additional 400 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of Danaos by 297.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,870 shares of the shipping company’s stock valued at $162,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Danaos by 340.1% in the 4th quarter. Allworth Financial LP now owns 1,941 shares of the shipping company’s stock valued at $149,000 after purchasing an additional 1,500 shares in the last quarter. 19.01% of the stock is owned by hedge funds and other 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.