Danaos (NYSE:DAC) Sets New 52-Week High – Still a Buy?

Shares of Danaos Corporation (NYSE:DAC) reached a new 52-week high on Thursday . The stock traded as high as $103.87 and last traded at $103.0260, with a volume of 80665 shares traded. The stock had previously closed at $102.40.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Danaos in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $105.00.

Danaos Price Performance

The stock has a market capitalization of $1.96 billion, a P/E ratio of 4.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.51 and a current ratio of 4.62. The firm has a 50-day moving average price of $96.94 and a 200 day moving average price of $93.40.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, November 17th. The shipping company reported $6.75 EPS for the quarter, missing analysts’ consensus estimates of $7.17 by ($0.42). The business had revenue of $260.73 million for the quarter, compared to the consensus estimate of $257.63 million. Danaos had a net margin of 45.16% and a return on equity of 13.49%. During the same quarter in the previous year, the business earned $6.50 earnings per share. On average, analysts expect that Danaos Corporation will post 29.21 EPS for the current year.

Danaos Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, December 2nd were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Tuesday, December 2nd. This is a boost from Danaos’s previous quarterly dividend of $0.85. Danaos’s dividend payout ratio is 14.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DAC. Aristides Capital LLC lifted its stake in shares of Danaos by 4.1% in the 3rd quarter. Aristides Capital LLC now owns 2,972 shares of the shipping company’s stock valued at $267,000 after acquiring an additional 116 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Danaos by 7.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,980 shares of the shipping company’s stock worth $268,000 after acquiring an additional 207 shares during the last quarter. SG Americas Securities LLC increased its stake in Danaos by 11.1% in the 2nd quarter. SG Americas Securities LLC now owns 2,727 shares of the shipping company’s stock worth $235,000 after purchasing an additional 272 shares during the period. Assetmark Inc. lifted its position in Danaos by 15,500.0% in the second quarter. Assetmark Inc. now owns 468 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 465 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Danaos by 165.0% during the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 485 shares during the period. 19.01% of the stock is owned by institutional investors.

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.