Jefferies Financial Group Reaffirms “Buy” Rating for Danaos (NYSE:DAC)

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

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

Danaos Stock Down 1.4 %

DAC opened at $82.95 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.93 and a quick ratio of 3.78. The business has a 50 day simple moving average of $79.26 and a 200-day simple moving average of $81.47. The stock has a market capitalization of $1.61 billion, a P/E ratio of 2.87 and a beta of 1.42. Danaos has a 12 month low of $69.33 and a 12 month high of $98.25.

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

Hedge Funds Weigh In On Danaos

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI raised its holdings in Danaos by 4.9% during the third quarter. National Bank of Canada FI now owns 3,871 shares of the shipping company’s stock worth $336,000 after purchasing an additional 182 shares during the last quarter. nVerses Capital LLC raised its holdings in Danaos by 75.0% during the third quarter. nVerses Capital LLC now owns 700 shares of the shipping company’s stock worth $61,000 after purchasing an additional 300 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Danaos by 37.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the shipping company’s stock worth $117,000 after purchasing an additional 400 shares during the last quarter. Summit Securities Group LLC acquired a new position in Danaos during the fourth quarter worth $32,000. Finally, Avior Wealth Management LLC raised its holdings in Danaos by 24.1% during the fourth quarter. Avior Wealth Management LLC now owns 2,321 shares of the shipping company’s stock worth $186,000 after purchasing an additional 451 shares during the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

About Danaos

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.