Danaos (NYSE:DAC) Rating Increased to Strong-Buy at StockNews.com

Danaos (NYSE:DAC – Get Rating) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

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

Danaos Stock Down 0.2 %

NYSE DAC opened at $58.80 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.80 and a current ratio of 1.86. The company has a market capitalization of $1.20 billion, a P/E ratio of 3.19 and a beta of 1.55. Danaos has a one year low of $51.10 and a one year high of $87.11. The stock has a 50 day moving average price of $56.68 and a 200-day moving average price of $56.64.

Institutional Trading of Danaos

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Toroso Investments LLC purchased a new stake in Danaos during the 1st quarter valued at $211,000. JPMorgan Chase & Co. raised its holdings in Danaos by 11.2% during the 1st quarter. JPMorgan Chase & Co. now owns 5,146 shares of the shipping company’s stock valued at $281,000 after buying an additional 519 shares during the period. New York State Common Retirement Fund purchased a new stake in Danaos during the 1st quarter valued at $134,000. Thrivent Financial for Lutherans raised its holdings in Danaos by 2.7% during the 1st quarter. Thrivent Financial for Lutherans now owns 6,535 shares of the shipping company’s stock valued at $357,000 after buying an additional 173 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Danaos by 1.1% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 18,300 shares of the shipping company’s stock valued at $1,000,000 after buying an additional 200 shares during the period. Hedge funds and other 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.