Danaos (DAC) Cut to “Hold” at ValuEngine

Danaos (NYSE:DAC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Other equities research analysts have also recently issued research reports about the company. Jefferies Group reaffirmed a “hold” rating and issued a $2.00 price target on shares of Danaos in a report on Friday, March 2nd. Zacks Investment Research raised Danaos from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th.

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Shares of NYSE:DAC traded up $0.05 during midday trading on Monday, hitting $1.30. The company had a trading volume of 18,717 shares, compared to its average volume of 45,400. Danaos has a twelve month low of $1.24 and a twelve month high of $3.20. The stock has a market cap of $137.25, a PE ratio of 1.24 and a beta of 0.62.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Monday, February 12th. The shipping company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. Danaos had a return on equity of 22.61% and a net margin of 18.57%. The firm had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $105.45 million. sell-side analysts forecast that Danaos will post 0.63 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Deutsche Bank AG increased its stake in Danaos by 3,841.8% during the fourth quarter. Deutsche Bank AG now owns 91,135 shares of the shipping company’s stock worth $132,000 after acquiring an additional 88,823 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Danaos during the fourth quarter worth $132,000. Finally, Neuberger Berman Group LLC increased its stake in Danaos by 4.7% during the third quarter. Neuberger Berman Group LLC now owns 1,810,713 shares of the shipping company’s stock worth $2,535,000 after acquiring an additional 80,962 shares during the last quarter. 2.04% of the stock is owned by institutional investors.

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About Danaos

Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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