ValuEngine downgraded shares of Danaos (NYSE:DAC) from a buy rating to a hold rating in a report released on Monday.
DAC has been the topic of a number of other reports. Zacks Investment Research downgraded Danaos from a hold rating to a sell rating in a research note on Wednesday, March 7th. Jefferies Group assumed coverage on Danaos in a research report on Monday, December 18th. They issued a hold rating and a $3.00 price target on the stock.
Shares of DAC stock remained flat at $$1.10 during trading on Monday. The company had a trading volume of 16,048 shares, compared to its average volume of 46,401. Danaos has a 1-year low of $1.05 and a 1-year high of $3.20. The company has a market cap of $120.78, a P/E ratio of 1.07 and a beta of 0.63.
Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC bought a new position in Danaos in the 4th quarter worth approximately $132,000. Deutsche Bank AG increased its position in Danaos by 3,841.8% in the 4th quarter. Deutsche Bank AG now owns 91,135 shares of the shipping company’s stock worth $132,000 after buying an additional 88,823 shares during the period. Finally, Neuberger Berman Group LLC increased its position in Danaos by 4.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,810,713 shares of the shipping company’s stock worth $2,535,000 after buying an additional 80,962 shares during the period. 2.04% of the stock is currently owned by institutional investors.
Danaos Company Profile
Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2018, it had a fleet of 55 containerships aggregating 327,616 twenty foot equivalent units.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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