Danaos (DAC) Downgraded by ValuEngine
ValuEngine cut shares of Danaos (NYSE:DAC) from a buy rating to a hold rating in a research report report published on Sunday.
A number of other brokerages have also issued reports on DAC. Zacks Investment Research lowered shares of Danaos from a hold rating to a sell rating in a research report on Tuesday, October 24th. Jefferies Group reiterated a hold rating and set a $3.00 target price on shares of Danaos in a research report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and an average price target of $3.00.
Shares of Danaos (NYSE DAC) remained flat at $$1.45 during mid-day trading on Friday. The company had a trading volume of 12,000 shares, compared to its average volume of 36,850. Danaos has a 52 week low of $1.25 and a 52 week high of $3.20. The company has a market capitalization of $159.21, a price-to-earnings ratio of -0.41 and a beta of 1.31.
An institutional investor recently raised its position in Danaos stock. Neuberger Berman Group LLC raised its position in Danaos Co. (NYSE:DAC) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,810,713 shares of the shipping company’s stock after purchasing an additional 80,962 shares during the period. Neuberger Berman Group LLC owned approximately 1.65% of Danaos worth $2,535,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.98% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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