Danaos Stock Just Hit A New All-Time High

• Danaos Corporation is a leading global containership owner.

• DAC exhibits robust technical momentum with shares trading at a new all-time high.

• The stock is up nearly 70% over the past year.

• Danaos also pays a dividend that yields 2.27%. 

Today’s Featured Stock

Valued at $2.86 billion, Danaos (DAC) is a leading international owner of containerships, chartering vessels to many of the world’s largest liner companies. 

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals and superior current momentum. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. DAC checks those boxes. The Trend Seeker issued a new “Buy” signal on July 21. The stock gained 21.2% since that signal.

Barchart’s Technical Indicators for Danaos

Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Danaos scored an all-time high of $156.89 on September 10.

• Danaos has a Weighted Alpha of 78.86.

• DAC has a 100% “Buy” opinion from Barchart.

• The stock has gained 67.45% over the past 52 weeks.

• Danaos has its Trend Seeker “Buy” signal intact.

• The stock recently traded at $159.33 with a 50-day moving average of $141.02.

• DAC had 12 highs and gained 17.57% in the last month.

• 60-month beta of 0.87.

• Relative Strength Index (RSI) is at 71.39.

• There’s a technical support level around $154.80.

Don’t Forget the Fundamentals

• $2.86 billion market capitalization.

• 5.54x trailing price-earnings ratio.

• 2.27% dividend yield.

• Revenue is projected to grow 11.21% this year and another 2.94% next year.

• Earnings are estimated to increase by 5.02% this year and have a dip of 11.23% next year.

Analyst and Investor Sentiment on Danaos

• The Wall Street analysts followed by Barchart give the stock 2 “Strong Buy” opinions with a price target of $155.

• Value Line rates the stock “Average.”

• Morningstar thinks the stock is fairly valued.

• CFRA’s MarketScope rates the stock as “Buy.”

• 11,660 investors are following the stock on Seeking Alpha, which rates it a “Hold.”

• TipRanks’ analysts’ price target is $155.

• Short interest is 3.88% of the float with 5.30 days to cover the float.

The Bottom Line on Danaos

As with all cargo shipping stocks, uncertainty and safety are the issues of the day.  If you buy it, put a tight stop loss on it.