Zacks Investment Research cut shares of Danaos (NYSE:DAC) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Danaos Corporation is a leading international owner of containerships, chartering vessels to many of the world’s largest liner companies. Danaos was set up by Dimitri Coustas, an experienced shipping investor who had been active in the industry. Having consistently developed sea transport services throughout its history, Danaos has forged a reputation for high-quality operational support to liner companies and other charterers throughout the world. The Company currently have a fleet of containerships aggregating TEU, making us among the largest containership charter owners in the world. We charter our containerships to a geographically diverse group of liner companies, including most of the largest ones globally. Such customers include Maersk, COSCO, Hapag-Lloyd, CMA-CGM, Neptune Orient Lines, Yang Ming, China Shipping, Norasia Container Lines Ltd, Hyundai Merchant Marine Co., Wan-Hai Lines and Zim Israel Integrated Shipping Services Ltd. “

Separately, ValuEngine cut Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd.

Shares of DAC stock opened at $9.40 on Tuesday. The firm has a market capitalization of $143.23 million, a PE ratio of 0.76 and a beta of 1.17. The company has a 50-day moving average of $10.11. The company has a current ratio of 0.58, a quick ratio of 0.54 and a debt-to-equity ratio of 2.05. Danaos has a 1-year low of $7.60 and a 1-year high of $32.20.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, May 13th. The shipping company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.29. The company had revenue of $112.89 million during the quarter, compared to analysts’ expectations of $108.03 million. Danaos had a positive return on equity of 19.75% and a negative net margin of 3.15%. As a group, equities analysts forecast that Danaos will post 7.98 earnings per share for the current year.

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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