Danaos (NYSE:DAC) Hits New 1-Year High – Should You Buy?

Danaos Corporation (NYSE:DAC) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $142.00 and last traded at $140.4090, with a volume of 424 shares. The stock had previously closed at $140.41.

Wall Street Analyst Weigh In

DAC has been the subject of several research analyst reports. Weiss Ratings upgraded Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $105.00.

Danaos Stock Up 2.8%

The company’s fifty day simple moving average is $129.09 and its 200 day simple moving average is $118.91. The company has a quick ratio of 8.40, a current ratio of 8.66 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.59 billion, a PE ratio of 5.03 and a beta of 0.89.

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

Danaos Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Tuesday, July 21st were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, July 21st. Danaos’s dividend payout ratio is presently 12.70%.

Hedge Funds Weigh In On Danaos

A number of institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in shares of Danaos during the 4th quarter valued at $43,000. Ascentis Independent Advisors purchased a new stake in shares of Danaos in the 1st quarter worth about $56,000. Raymond James Financial Inc. bought a new position in shares of Danaos in the 2nd quarter worth about $64,000. Tower Research Capital LLC TRC bought a new position in shares of Danaos in the 2nd quarter worth about $67,000. Finally, Farther Finance Advisors LLC boosted its stake in Danaos by 165.0% during the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock worth $73,000 after acquiring an additional 485 shares in the last quarter. 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.