ValuEngine Downgrades Danaos (DAC) to Strong Sell
ValuEngine cut shares of Danaos (NYSE:DAC) from a sell rating to a strong sell rating in a research note released on Tuesday morning.
Separately, Zacks Investment Research upgraded shares of Danaos from a hold rating to a buy rating and set a $1.75 price target on the stock in a research report on Friday, June 29th.
NYSE DAC opened at $1.60 on Tuesday. The firm has a market capitalization of $175.68 million, a price-to-earnings ratio of 1.52 and a beta of 0.67. Danaos has a 52-week low of $1.05 and a 52-week high of $2.50.
An institutional investor recently bought a new position in Danaos stock. Renaissance Technologies LLC acquired a new position in shares of Danaos Co. (NYSE:DAC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 91,119 shares of the shipping company’s stock, valued at approximately $132,000. Renaissance Technologies LLC owned 0.08% of Danaos as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 1.86% of the company’s stock.
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.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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