Danaos (NYSE:DAC) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Danaos (NYSE:DAC) from a buy rating to a hold rating in a report issued on Tuesday morning.

Separately, Jefferies Financial Group restated a “buy” rating and issued a $105.00 price target on shares of Danaos in a research report on Tuesday.

Danaos Stock Performance

Shares of DAC opened at $82.69 on Tuesday. The company has a quick ratio of 4.04, a current ratio of 4.18 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $82.65 and a two-hundred day simple moving average of $85.08. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 2.82 and a beta of 1.47. Danaos has a 52 week low of $62.60 and a 52 week high of $98.25.

Hedge Funds Weigh In On Danaos

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in shares of Danaos by 32.5% in the first quarter. Russell Investments Group Ltd. now owns 38,758 shares of the shipping company’s stock worth $2,819,000 after acquiring an additional 9,506 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Danaos by 41.3% in the first quarter. Acadian Asset Management LLC now owns 591,001 shares of the shipping company’s stock worth $42,647,000 after acquiring an additional 172,832 shares during the period. BNP Paribas Financial Markets boosted its stake in Danaos by 88.4% during the first quarter. BNP Paribas Financial Markets now owns 18,961 shares of the shipping company’s stock valued at $1,369,000 after buying an additional 8,897 shares during the last quarter. Gordian Capital Singapore Pte Ltd boosted its stake in Danaos by 17,600,000.0% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock valued at $16,255,000 after buying an additional 176,000 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Danaos by 55.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 24,694 shares of the shipping company’s stock valued at $1,783,000 after buying an additional 8,839 shares during the last quarter. Institutional investors own 19.01% of the company’s stock.

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.