Danaos (DAC) Downgraded by ValuEngine to “Strong Sell”

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Danaos (NYSE:DAC) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Monday.

Separately, Zacks Investment Research upgraded Danaos from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a research report on Friday, June 29th.

Shares of Danaos traded down $0.27, reaching $1.75, during midday trading on Monday, Marketbeat Ratings reports. 518,700 shares of the company’s stock traded hands, compared to its average volume of 82,367. Danaos has a 1 year low of $1.05 and a 1 year high of $3.20. The firm has a market capitalization of $222.34 million, a price-to-earnings ratio of 1.67 and a beta of 0.71.

Danaos (NYSE:DAC) last announced its earnings results on Tuesday, June 26th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. Danaos had a return on equity of 22.77% and a net margin of 17.74%. The firm had revenue of $111.85 million for the quarter, compared to analyst estimates of $103.98 million. analysts forecast that Danaos will post 0.7 earnings per share for the current year.

An institutional investor recently bought a new position in Danaos stock. Renaissance Technologies LLC bought a new stake in shares of Danaos Co. (NYSE:DAC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 91,119 shares of the shipping company’s stock, valued at approximately $132,000. Renaissance Technologies LLC owned approximately 0.08% of Danaos at the end of the most recent reporting period. Institutional investors own 1.86% of the company’s stock.

About Danaos

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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