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Danaos' (DAC) "Buy (B)" Rating Reiterated at Weiss Ratings

Danaos logo with Transportation background

Key Points

  • Danaos' stock received a "Buy (B)" rating from Weiss Ratings, with a consensus price target of $105.00 following similar support from Jefferies Financial Group.
  • The company reported a net margin of 44.62% and earnings per share (EPS) of $6.36 for its latest quarter, slightly missing the analysts' estimate.
  • Several institutional investors increased their stakes in Danaos, indicating strong investor interest, with 19.01% of the stock now owned by institutional investors and hedge funds.
  • Five stocks to consider instead of Danaos.

Danaos (NYSE:DAC - Get Free Report)'s stock had its "buy (b)" rating reissued by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $105.00 price target on shares of Danaos in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $105.00.

Read Our Latest Report on Danaos

Danaos Trading Down 0.5%

Shares of DAC traded down $0.47 during trading on Wednesday, reaching $86.88. 88,918 shares of the company traded hands, compared to its average volume of 70,510. Danaos has a twelve month low of $65.40 and a twelve month high of $96.47. The stock has a market cap of $1.65 billion, a PE ratio of 3.58 and a beta of 1.45. The stock has a 50-day simple moving average of $92.65 and a 200-day simple moving average of $86.63. The company has a quick ratio of 5.21, a current ratio of 5.36 and a debt-to-equity ratio of 0.20.

Danaos (NYSE:DAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The shipping company reported $6.36 EPS for the quarter, missing the consensus estimate of $6.52 by ($0.16). Danaos had a net margin of 44.62% and a return on equity of 13.88%. The business had revenue of $262.15 million during the quarter, compared to analysts' expectations of $247.26 million. On average, analysts anticipate that Danaos will post 29.21 earnings per share for the current year.

Hedge Funds Weigh In On Danaos

Several institutional investors have recently bought and sold shares of DAC. Ion Asset Management Ltd. increased its stake in Danaos by 15.5% in the 2nd quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company's stock valued at $56,428,000 after buying an additional 87,614 shares during the period. Goldman Sachs Group Inc. increased its stake in Danaos by 183.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company's stock valued at $3,606,000 after buying an additional 29,921 shares during the period. Hi Line Capital Management LLC acquired a new position in Danaos in the 2nd quarter valued at $2,481,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Danaos during the 2nd quarter worth $2,277,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Danaos by 39.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company's stock worth $7,144,000 after purchasing an additional 23,593 shares during the period. 19.01% of the stock is owned by institutional investors and hedge funds.

About Danaos

(Get Free Report)

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.

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