Danaos Corporation (NYSE:DAC)‘s stock had its “hold” rating restated by analysts at Jefferies Group LLC in a report issued on Wednesday. They presently have a $3.00 target price on the shipping company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 103.39% from the company’s previous close.

DAC has been the subject of several other research reports. ValuEngine lowered shares of Danaos Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Danaos Corporation from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research report on Tuesday, June 20th. Finally, BidaskClub upgraded shares of Danaos Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $2.25.

Danaos Corporation (NYSE:DAC) opened at 1.475 on Wednesday. The firm has a 50-day moving average of $1.89 and a 200 day moving average of $1.84. The stock’s market cap is $161.95 million. Danaos Corporation has a 12 month low of $1.25 and a 12 month high of $4.40.

Danaos Corporation (NYSE:DAC) last issued its quarterly earnings results on Monday, July 31st. The shipping company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. Danaos Corporation had a negative net margin of 92.96% and a positive return on equity of 16.72%. The firm had revenue of $113.88 million during the quarter, compared to analyst estimates of $108.01 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. Danaos Corporation’s revenue for the quarter was down 16.9% compared to the same quarter last year. Analysts anticipate that Danaos Corporation will post $0.89 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Danaos Corporation by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 113,802 shares of the shipping company’s stock valued at $193,000 after buying an additional 3,000 shares in the last quarter. Spark Investment Management LLC increased its stake in Danaos Corporation by 71.6% in the first quarter. Spark Investment Management LLC now owns 35,700 shares of the shipping company’s stock valued at $135,000 after buying an additional 14,900 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Danaos Corporation by 1.0% in the third quarter. Neuberger Berman Group LLC now owns 1,854,613 shares of the shipping company’s stock valued at $4,970,000 after buying an additional 17,901 shares in the last quarter. Acrospire Investment Management LLC increased its stake in Danaos Corporation by 46.2% in the third quarter. Acrospire Investment Management LLC now owns 79,396 shares of the shipping company’s stock valued at $213,000 after buying an additional 25,091 shares in the last quarter. Finally, FCA Corp TX increased its stake in Danaos Corporation by 188.3% in the second quarter. FCA Corp TX now owns 43,245 shares of the shipping company’s stock valued at $118,000 after buying an additional 28,245 shares in the last quarter. Institutional investors own 2.14% of the company’s stock.

Danaos Corporation Company Profile

Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.

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