Danaos’ (DAC) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Danaos (NYSE:DAC) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $105.00 price target on the shipping company’s stock.

Danaos Stock Up 1.9 %

NYSE DAC opened at $82.69 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.04 and a current ratio of 4.18. Danaos has a 52 week low of $62.60 and a 52 week high of $98.25. The stock has a market capitalization of $1.61 billion, a P/E ratio of 2.82 and a beta of 1.47. The stock has a fifty day moving average of $82.65 and a 200-day moving average of $85.08.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its holdings in Danaos by 21.4% in the second quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock valued at $64,000 after buying an additional 122 shares during the period. National Bank of Canada FI boosted its position in shares of Danaos by 7.5% in the 2nd quarter. National Bank of Canada FI now owns 3,689 shares of the shipping company’s stock worth $339,000 after purchasing an additional 257 shares during the last quarter. nVerses Capital LLC grew its stake in shares of 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 period. Tidal Investments LLC increased its holdings in Danaos by 3.3% in the first quarter. Tidal Investments LLC now owns 11,905 shares of the shipping company’s stock valued at $860,000 after purchasing an additional 382 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC lifted its stake in Danaos by 12.1% in the second quarter. Morgan Dempsey Capital Management LLC now owns 3,811 shares of the shipping company’s stock valued at $352,000 after buying an additional 411 shares during the period. Institutional investors own 19.01% of the company’s stock.

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.