Danaos (NYSE:DAC) Hits New 52-Week High at $85.00

Danaos Co. (NYSE:DAC - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $85.00 and last traded at $84.11, with a volume of 8246 shares traded. The stock had previously closed at $84.58.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a "buy" rating and issued a $90.00 price target on shares of Danaos in a report on Wednesday, February 14th.

Danaos Stock Down 0.2 %

The company has a current ratio of 2.98, a quick ratio of 2.84 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $74.41 and a 200-day moving average of $72.76. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 2.92 and a beta of 1.30.

Danaos (NYSE:DAC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The shipping company reported $6.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.70 by ($0.71). Danaos had a net margin of 59.19% and a return on equity of 19.94%. The firm had revenue of $249.32 million for the quarter, compared to analyst estimates of $254.37 million. As a group, sell-side analysts forecast that Danaos Co. will post 31.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Mackenzie Financial Corp increased its stake in Danaos by 139.7% in the 3rd quarter. Mackenzie Financial Corp now owns 19,935 shares of the shipping company's stock valued at $1,303,000 after buying an additional 11,618 shares during the period. Olympiad Research LP bought a new position in shares of Danaos during the 3rd quarter worth about $283,000. Signaturefd LLC grew its stake in shares of Danaos by 45.2% in the 3rd quarter. Signaturefd LLC now owns 524 shares of the shipping company's stock valued at $35,000 after purchasing an additional 163 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Danaos by 9.9% during the third quarter. Janney Montgomery Scott LLC now owns 22,323 shares of the shipping company's stock valued at $1,478,000 after acquiring an additional 2,007 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Danaos during the third quarter worth approximately $1,711,000. 19.01% of the stock is owned by institutional investors and hedge funds.

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.