Danaos (NYSE:DAC) Stock Rating Upgraded by Fearnley Fonds

Danaos (NYSE:DAC) was upgraded by Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Freedom Capital upgraded Danaos to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Danaos in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $105.00.

Danaos Price Performance

Shares of NYSE:DAC opened at $119.64 on Thursday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 4.47 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.28 and a quick ratio of 3.23. The business’s 50 day simple moving average is $114.60 and its 200-day simple moving average is $102.64. Danaos has a 12 month low of $80.29 and a 12 month high of $123.93.

Danaos (NYSE:DAC) last released its quarterly earnings data on Monday, February 9th. The shipping company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $6.46 by $0.68. The firm had revenue of $266.27 million during the quarter, compared to the consensus estimate of $253.00 million. Danaos had a return on equity of 13.31% and a net margin of 47.45%.

Institutional Trading of Danaos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAC. Kestra Advisory Services LLC purchased a new position in Danaos in the 4th quarter valued at about $43,000. Ascentis Independent Advisors acquired a new stake in shares of Danaos during the 1st quarter worth about $56,000. Raymond James Financial Inc. purchased a new stake in shares of Danaos during the second quarter worth about $64,000. Tower Research Capital LLC TRC purchased a new stake in shares of Danaos during the second quarter worth about $67,000. Finally, Farther Finance Advisors LLC raised its position in shares of Danaos by 165.0% in the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after buying an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 19.01% of the company’s stock.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.