Danaos (NYSE:DAC) Upgraded at Fearnley Fonds

Key Points

• Fearnley Fonds upgraded Danaos (NYSE:DAC) from "hold" to "strong-buy," adding to analyst support that leaves the stock with an average "Buy" rating and an average price target of $105.
• Strong recent results and attractive valuation: Danaos reported $7.14 EPS on $266.3M revenue (both beating estimates), has a 47.45% net margin, trades near $120 with a $2.18B market cap and a low P/E of 4.48.

Danaos (NYSE:DAC - Get Free Report) was upgraded by investment analysts at Fearnley Fonds from a "hold" rating to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

DAC has been the subject of several other reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Danaos in a research report on Wednesday, January 21st. Freedom Capital raised Danaos to a "hold" rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Danaos has an average rating of "Buy" and an average price target of $105.00.

Danaos Stock Up 0.2%

Shares of DAC opened at $120.01 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.23 and a current ratio of 3.28. Danaos has a one year low of $79.48 and a one year high of $123.93. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 4.48 and a beta of 0.95. The stock has a 50 day moving average price of $114.60 and a 200 day moving average price of $102.64.

Danaos (NYSE:DAC - Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The shipping company reported $7.14 EPS for the quarter, topping the consensus estimate of $6.46 by $0.68. Danaos had a return on equity of 13.31% and a net margin of 47.45%.The firm had revenue of $266.27 million during the quarter, compared to analysts' expectations of $253.00 million.

Hedge Funds Weigh In On Danaos

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new position in Danaos during the fourth quarter worth $43,000. Ascentis Independent Advisors acquired a new position in Danaos during the first quarter worth $56,000. Raymond James Financial Inc. acquired a new position in Danaos during the second quarter worth $64,000. Tower Research Capital LLC TRC acquired a new position in Danaos during the second quarter worth $67,000. Finally, Farther Finance Advisors LLC boosted its stake in Danaos by 165.0% during the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company's stock worth $73,000 after buying an additional 485 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company's stock.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company's core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.

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