ValuEngine cut shares of Danaos (NYSE:DAC) from a hold rating to a sell rating in a research report report published on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research cut shares of Danaos from a strong-buy rating to a hold rating in a research note on Friday, October 11th.

Shares of Danaos stock traded down $0.57 during trading hours on Thursday, reaching $11.32. The company’s stock had a trading volume of 10,786 shares, compared to its average volume of 13,271. The firm has a 50 day moving average price of $10.50 and a 200-day moving average price of $9.06. Danaos has a one year low of $6.65 and a one year high of $16.66. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.55 and a quick ratio of 0.51. The stock has a market cap of $188.79 million, a P/E ratio of 0.92 and a beta of 1.26.

Danaos (NYSE:DAC) last posted its earnings results on Monday, November 4th. The shipping company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.32. Danaos had a negative net margin of 18.46% and a positive return on equity of 20.35%. The firm had revenue of $111.83 million for the quarter, compared to the consensus estimate of $108.82 million. As a group, sell-side analysts forecast that Danaos will post 8.94 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Danaos stock. Creative Planning purchased a new position in shares of Danaos Co. (NYSE:DAC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the shipping company’s stock, valued at approximately $90,000. Creative Planning owned 0.07% of Danaos at the end of the most recent quarter. Hedge funds and other institutional investors own 22.05% 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, 2019, it had a fleet of 55 containerships aggregating 327,616 twenty foot equivalent units in capacity.

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