StockNews.com Begins Coverage on Danaos (NYSE:DAC)

StockNews.com assumed coverage on shares of Danaos (NYSE:DAC – Get Rating) in a report issued on Thursday. The brokerage set a “buy” rating on the shipping company’s stock.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Danaos in a research report on Wednesday, February 15th.

Danaos Stock Up 0.4 %

Shares of Danaos stock opened at $61.93 on Thursday. The business has a 50-day moving average of $56.12 and a 200-day moving average of $56.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.63 and a quick ratio of 1.56. The company has a market capitalization of $1.26 billion, a PE ratio of 3.36 and a beta of 1.55. Danaos has a 1-year low of $51.10 and a 1-year high of $87.11.

Danaos (NYSE:DAC – Get Rating) last announced its earnings results on Tuesday, February 14th. The shipping company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $6.90 by $0.09. Danaos had a return on equity of 29.09% and a net margin of 56.30%. The company had revenue of $252.48 million during the quarter, compared to the consensus estimate of $231.70 million. As a group, equities analysts forecast that Danaos will post 27.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Danaos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new position in shares of Danaos in the third quarter valued at $30,000. Founders Capital Management raised its stake in Danaos by 40.0% during the 1st quarter. Founders Capital Management now owns 700 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 200 shares during the period. Quadrant Capital Group LLC raised its stake in Danaos by 197.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 722 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 479 shares during the period. Citigroup Inc. raised its stake in Danaos by 34.2% during the 1st quarter. Citigroup Inc. now owns 808 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 206 shares during the period. Finally, Credit Suisse AG purchased a new position in shares of Danaos during the 2nd quarter valued at $45,000. Institutional investors own 19.41% of the company’s stock.

About Danaos

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Danaos Corp. engages in the provision of marine and seaborne transportation services. It offers services by operating vessels in the containership sector of the shipping industry. The company was founded by Dimitris Coustas in 1972 and is headquartered in Piraeus, Greece.