Danaos (NYSE:DAC) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Danaos Corporation (NYSE:DAC)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $108.37 and traded as high as $126.83. Danaos shares last traded at $124.9970, with a volume of 167,556 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DAC. Freedom Capital upgraded shares of Danaos to a “hold” rating in a research report on Tuesday, March 10th. Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $105.00.

Danaos Stock Down 0.7%

The firm has a market cap of $2.27 billion, a P/E ratio of 4.41 and a beta of 0.90. The stock’s 50 day simple moving average is $121.55 and its 200 day simple moving average is $108.37. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66.

Danaos (NYSE:DAC) last announced its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $0.86. The business had revenue of $253.70 million during the quarter, compared to analyst estimates of $242.20 million. Danaos had a net margin of 49.85% and a return on equity of 13.18%.

Danaos Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, May 26th. Danaos’s payout ratio is 12.70%.

Institutional Trading of Danaos

Several institutional investors have recently made changes to their positions in DAC. Cubist Systematic Strategies LLC bought a new stake in shares of Danaos in the 1st quarter worth $223,000. Goldman Sachs Group Inc. grew its stake in shares of Danaos by 183.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock worth $3,606,000 after acquiring an additional 29,921 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Danaos by 39.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company’s stock worth $7,144,000 after acquiring an additional 23,593 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Danaos in the 2nd quarter worth $276,000. Finally, Jump Financial LLC bought a new stake in shares of Danaos in the 2nd quarter worth $1,682,000. 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.