Darling Ingredients (NYSE:DAR) Announces 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 quarterly earnings data on Thursday. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03), Zacks reports. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Darling Ingredients had a net margin of 1.85% and a return on equity of 2.37%. The business's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share.

Darling Ingredients Price Performance

Shares of DAR stock traded up $0.18 on Wednesday, reaching $33.37. The company's stock had a trading volume of 807,237 shares, compared to its average volume of 2,388,278. The company has a quick ratio of 0.83, a current ratio of 1.40 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 market capitalization of $5.28 billion, a P/E ratio of 50.69 and a beta of 1.23. The stock's 50 day simple moving average is $35.25 and its 200-day simple moving average is $34.29.

Institutional Investors Weigh In On Darling Ingredients

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in shares of Darling Ingredients by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company's stock worth $20,119,000 after buying an additional 93,408 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Darling Ingredients by 10.9% in 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 worth $18,768,000 after buying an additional 58,925 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Darling Ingredients in the 1st quarter worth approximately $205,000. Institutional investors own 94.44% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DAR. Robert W. Baird reaffirmed a "neutral" rating and issued a $36.00 price target (down previously from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Tudor Pickering raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. Jefferies Financial Group raised their price target on shares of 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 dropped their price target on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Baird R W cut shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $45.86.

Darling Ingredients Company Profile

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.