Danaos (NYSE:DAC) Receives Buy Rating from Jefferies Financial Group

Danaos (NYSE:DAC)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Financial Group in a report released on Tuesday,Benzinga reports. They presently have a $105.00 target price on the shipping company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 26.58% from the stock’s current price.

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

Danaos Stock Performance

Danaos stock opened at $82.95 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. The stock has a fifty day moving average of $79.26 and a two-hundred day moving average of $81.47. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 2.87 and a beta of 1.42. Danaos has a fifty-two week low of $69.33 and a fifty-two week high of $98.25.

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

Institutional Investors Weigh In On Danaos

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its position in Danaos by 18.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 314,787 shares of the shipping company’s stock valued at $25,205,000 after acquiring an additional 48,155 shares during the period. TrueMark Investments LLC grew its position in Danaos by 252.9% during the fourth quarter. TrueMark Investments LLC now owns 65,485 shares of the shipping company’s stock valued at $5,243,000 after acquiring an additional 46,930 shares during the period. JPMorgan Chase & Co. grew its position in Danaos by 71.8% during the fourth quarter. JPMorgan Chase & Co. now owns 51,291 shares of the shipping company’s stock valued at $4,107,000 after acquiring an additional 21,430 shares during the period. Sei Investments Co. grew its position in Danaos by 12.8% during the fourth quarter. Sei Investments Co. now owns 32,629 shares of the shipping company’s stock valued at $2,613,000 after acquiring an additional 3,696 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Danaos by 2.9% during the third quarter. Janney Montgomery Scott LLC now owns 26,908 shares of the shipping company’s stock valued at $2,334,000 after acquiring an additional 766 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

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.