Darling Ingredients (NYSE:DAR) Announces Quarterly Earnings Results

Key Points

• Darling Ingredients reported earnings of $0.09 per share, missing the consensus estimate of $0.12 by $0.03, while revenues were slightly below expectations at $1.48 billion.
• The company's net margin was reported at 1.85%, with a year-over-year revenue increase of 1.8%.
• Institutional investors and hedge funds own 94.44% of Darling Ingredients, indicating strong interest and investment in the company.

Darling Ingredients (NYSE:DAR - Get Free Report) posted its earnings results on Thursday. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03), Zacks reports. Darling Ingredients had a return on equity of 2.37% and a net margin of 1.85%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business posted $0.49 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis.

Darling Ingredients Stock Up 0.2%

NYSE:DAR traded up $0.07 on Monday, reaching $34.38. The stock had a trading volume of 1,803,793 shares, compared to its average volume of 2,299,056. The company has a current ratio of 1.40, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Darling Ingredients has a 12-month low of $26.00 and a 12-month high of $43.49. The company has a 50-day moving average of $35.25 and a 200 day moving average of $34.31. The stock has a market cap of $5.44 billion, a P/E ratio of 52.09 and a beta of 1.23.

Institutional Investors Weigh In On Darling Ingredients

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Darling Ingredients by 17.0% during the first quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company's stock valued at $20,119,000 after acquiring an additional 93,408 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Darling Ingredients by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company's stock valued at $18,768,000 after buying an additional 58,925 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of Darling Ingredients in the 1st quarter valued at $205,000. Institutional investors and hedge funds own 94.44% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen raised Darling Ingredients from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Jefferies Financial Group upped their price objective on Darling Ingredients from $45.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Piper Sandler decreased their price objective on Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday. TD Cowen decreased their price objective on Darling Ingredients from $37.00 to $34.00 and set a "hold" rating on the stock in a research report on Friday, April 25th. Finally, Baird R W downgraded Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $45.86.

About Darling Ingredients

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.