Danaos (NYSE:DAC) Stock Rating Upgraded by Freedom Capital

Danaos (NYSE:DAC) was upgraded by research analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on DAC. Weiss Ratings raised shares of Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 28th. Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

Danaos Trading Up 3.4%

NYSE:DAC opened at $143.33 on Wednesday. The stock has a market cap of $2.61 billion, a PE ratio of 4.85 and a beta of 0.89. Danaos has a fifty-two week low of $83.56 and a fifty-two week high of $145.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 9.30 and a quick ratio of 8.40. The stock’s 50-day moving average is $130.28 and its two-hundred day moving average is $120.33.

Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 EPS for the quarter, beating analysts’ consensus estimates of $6.80 by $0.49. Danaos had a net margin of 51.26% and a return on equity of 13.20%. The firm had revenue of $274.37 million for the quarter, compared to the consensus estimate of $258.27 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DAC. Cubist Systematic Strategies LLC acquired a new stake in Danaos in the 1st quarter worth approximately $223,000. Goldman Sachs Group Inc. grew its holdings in Danaos by 183.6% during the first quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock valued at $3,606,000 after purchasing an additional 29,921 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Danaos by 39.8% during the second quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company’s stock valued at $7,144,000 after purchasing an additional 23,593 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Danaos in the second quarter valued at approximately $276,000. Finally, Jump Financial LLC bought a new position in shares of Danaos in the second quarter valued at approximately $1,682,000. 19.01% of the stock is owned by institutional investors.

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.