Darling Ingredients Inc. (NYSE:DAR) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Darling Ingredients, with 10 buy ratings and three holds among 13 brokerages. The average 12-month price target is $69.00, while several firms recently raised their targets.
• Darling reported strong quarterly results, posting $2.41 in adjusted earnings per share versus the $1.40 consensus estimate and $1.72 billion in revenue. Revenue increased 16.4% year over year.
• The stock opened at $68.27, near its 52-week high of $68.59, and institutional investors own 94.44% of shares. Company insiders, however, sold 10,591 shares worth approximately $704,000 over the past 90 days.

Shares of Darling Ingredients Inc. (NYSE:DAR - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $69.00.

DAR has been the subject of several recent analyst reports. TD Cowen boosted their target price on Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Weiss Ratings upgraded Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. Jefferies Financial Group increased their price target on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, Scotiabank lifted their price target on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $68.27 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. The firm has a market capitalization of $10.77 billion, a P/E ratio of 18.40 and a beta of 1.02. Darling Ingredients has a one year low of $29.15 and a one year high of $68.59. The business has a fifty day moving average price of $59.31 and a 200-day moving average price of $57.94.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $1.40 by $1.01. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The company's revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. As a group, equities research analysts forecast that Darling Ingredients will post 6.98 EPS for the current year.

Insider Buying and Selling at Darling Ingredients

In other news, EVP Patrick Mcnutt sold 8,000 shares of the firm's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the transaction, the executive vice president directly owned 35,777 shares of the company's stock, valued at approximately $2,400,278.93. This trade represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Joseph Manzi sold 1,000 shares of Darling Ingredients stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total value of $67,270.00. Following the completion of the transaction, the chief accounting officer owned 18,969 shares in the company, valued at approximately $1,276,044.63. This represents a 5.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,591 shares of company stock worth $704,303 in the last 90 days. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Darling Ingredients

Large investors have recently bought and sold shares of the stock. SJS Investment Consulting Inc. boosted its holdings in shares of Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 174 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in shares of Darling Ingredients by 2.6% in the first quarter. Turtle Creek Wealth Advisors LLC now owns 7,625 shares of the company's stock worth $472,000 after acquiring an additional 196 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in shares of Darling Ingredients by 2.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 7,776 shares of the company's stock worth $481,000 after purchasing an additional 220 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Darling Ingredients by 3.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company's stock valued at $277,000 after purchasing an additional 267 shares during the period. Finally, Basecamp Wealth Advisors LLC boosted its holdings in Darling Ingredients by 35.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company's stock valued at $64,000 after purchasing an additional 270 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

About Darling Ingredients

Darling Ingredients Inc NYSE: DAR is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company's core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source