Danaos (NYSE:DAC) Hits New 52-Week High – Should You Buy?

Danaos Corporation (NYSE:DAC)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $135.63 and last traded at $135.1050, with a volume of 47990 shares trading hands. The stock had previously closed at $132.19.

Wall Street Analyst Weigh In

DAC has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Danaos from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, July 14th. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Danaos presently has a consensus rating of “Buy” and an average price target of $105.00.

Danaos Stock Performance

The firm’s fifty day moving average is $128.13 and its 200-day moving average is $117.09. The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.48 billion, a PE ratio of 4.80 and a beta of 0.89.

Danaos (NYSE:DAC) last announced its earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share for the quarter, topping the consensus estimate of $5.86 by $0.86. Danaos had a net margin of 49.85% and a return on equity of 13.18%. The company had revenue of $253.70 million during the quarter, compared to analyst estimates of $242.20 million.

Danaos Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Tuesday, July 21st will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.6%. Danaos’s dividend payout ratio (DPR) is presently 12.70%.

Institutional Trading of Danaos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAC. Kestra Advisory Services LLC acquired a new position in Danaos during the fourth quarter worth $43,000. Ascentis Independent Advisors acquired a new stake in shares of Danaos in the first quarter valued at $56,000. Raymond James Financial Inc. acquired a new stake in shares of Danaos in the second quarter valued at $64,000. Tower Research Capital LLC TRC purchased a new stake in shares of Danaos in the 2nd quarter valued at $67,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Danaos by 165.0% in the 4th quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after buying an additional 485 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

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.