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

Danaos Corporation (NYSE:DAC) reached a new 52-week high on Tuesday . The stock traded as high as $152.98 and last traded at $152.3410, with a volume of 157525 shares trading hands. The stock had previously closed at $150.50.

Wall Street Analysts Forecast Growth

DAC has been the topic of several recent research reports. Freedom Capital raised Danaos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Danaos Trading Up 1.4%

The stock has a fifty day moving average of $134.57 and a 200-day moving average of $124.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 9.15 and a current ratio of 9.30. The company has a market cap of $2.73 billion, a PE ratio of 5.07 and a beta of 0.89.

Danaos (NYSE:DAC) last posted its quarterly earnings results on Monday, August 3rd. The shipping company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.80 by $0.49. The company had revenue of $274.37 million for the quarter, compared to the consensus estimate of $258.27 million. Danaos had a net margin of 51.26% and a return on equity of 13.20%.

Danaos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Tuesday, July 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.4%. Danaos’s dividend payout ratio is presently 12.18%.

Hedge Funds Weigh In On Danaos

Institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in Danaos during the 4th quarter worth about $43,000. Ascentis Independent Advisors purchased a new stake in shares of Danaos in the 1st quarter worth approximately $56,000. Raymond James Financial Inc. purchased a new stake in shares of Danaos in the 2nd quarter worth approximately $64,000. Tower Research Capital LLC TRC bought a new position in shares of Danaos during the second quarter valued at approximately $67,000. 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 in the last quarter. 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.