Danaos (NYSE:DAC) Upgraded at Freedom Capital

Key Points

• Freedom Capital upgraded Danaos from “hold” to “strong buy,” while other analysts also raised their ratings; MarketBeat reports an overall “Strong Buy” consensus from three analysts.
• Danaos shares rose 3.4% to $143.33, near their 52-week high of $145.31. The company reported quarterly EPS of $7.29 and revenue of $274.37 million, exceeding analyst estimates.
• Institutional investors collectively own 19.01% of Danaos, with several funds recently increasing their positions in the shipping company.

Danaos (NYSE:DAC - Get Free Report) was upgraded by analysts at Freedom Capital from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Weiss Ratings raised Danaos from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, July 28th. Fearnley Fonds raised Danaos from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, Danaos has an average rating of "Strong Buy".

Danaos Trading Up 3.4%

Shares of DAC stock opened at $143.33 on Wednesday. Danaos has a 52-week low of $83.56 and a 52-week high of $145.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 8.40 and a current ratio of 9.30. The firm has a market capitalization of $2.61 billion, a PE ratio of 4.85 and a beta of 0.89. The stock has a fifty day simple moving average of $130.28 and a two-hundred day simple moving average of $120.33.

Danaos (NYSE:DAC - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The shipping company reported $7.29 EPS for the quarter, beating analysts' consensus estimates of $6.80 by $0.49. Danaos had a return on equity of 13.20% and a net margin of 51.26%.The business had revenue of $274.37 million for the quarter, compared to analysts' expectations of $258.27 million.

Hedge Funds Weigh In On Danaos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAC. O Shaughnessy Asset Management LLC lifted its holdings in Danaos by 3.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,671 shares of the shipping company's stock valued at $440,000 after buying an additional 165 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Danaos by 33.2% in the 1st quarter. Parallel Advisors LLC now owns 1,171 shares of the shipping company's stock worth $132,000 after acquiring an additional 292 shares in the last quarter. R Squared Ltd raised its holdings in Danaos by 12.0% in the fourth quarter. R Squared Ltd now owns 2,824 shares of the shipping company's stock worth $266,000 after purchasing an additional 303 shares in the last quarter. State Street Corp raised its stake in shares of Danaos by 2.4% during the 4th quarter. State Street Corp now owns 15,761 shares of the shipping company's stock worth $1,484,000 after acquiring an additional 372 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Danaos during the fourth quarter worth $43,000. 19.01% of the stock is owned by institutional investors.

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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