Darling Ingredients (NYSE:DAR) Director Charles Adair Buys 1,000 Shares of Stock

Key Points

• Director Charles Adair purchased 1,000 Darling Ingredients shares at an average price of $60.97, increasing his holdings by 1.97% to 51,690 shares.
• Darling Ingredients reported quarterly EPS of $2.41, well above the $1.40 consensus estimate, while revenue rose 16.4% year over year to $1.72 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $69.00, compared with the stock’s recent trading price near $59.76; institutional investors own 94.44% of shares.

Darling Ingredients Inc. (NYSE:DAR - Get Free Report) Director Charles Adair bought 1,000 shares of Darling Ingredients stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $60.97 per share, with a total value of $60,970.00. Following the acquisition, the director owned 51,690 shares of the company's stock, valued at $3,151,539.30. The trade was a 1.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Darling Ingredients Stock Performance

NYSE:DAR traded down $0.88 during trading hours on Monday, reaching $59.76. The company had a trading volume of 3,280,332 shares, compared to its average volume of 2,671,607. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.89 and a quick ratio of 1.03. Darling Ingredients Inc. has a 1-year low of $29.15 and a 1-year high of $66.02. The business's 50 day moving average price is $58.50 and its 200-day moving average price is $56.12. The firm has a market cap of $9.50 billion, a PE ratio of 16.11 and a beta of 1.02.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 13.23%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted $0.08 EPS. The company's revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts forecast that Darling Ingredients Inc. will post 5.34 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on DAR shares. Stephens raised their target price on Darling Ingredients from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Robert W. Baird upped their price objective on shares of Darling Ingredients from $64.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. raised their price objective on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Zacks Research lowered shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Darling Ingredients from a "hold" rating to a "buy" rating in a research note on Sunday, July 5th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Darling Ingredients currently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds and other institutional investors have recently bought and sold shares of DAR. AIA Group Ltd purchased a new stake in Darling Ingredients during the 1st quarter worth approximately $4,453,000. Fideuram Asset Management Ireland dac purchased a new position in Darling Ingredients in the 4th quarter valued at approximately $585,000. BNP Paribas Financial Markets boosted its position in Darling Ingredients by 26.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company's stock valued at $47,179,000 after buying an additional 277,233 shares during the period. Ninety One UK Ltd grew its stake in shares of Darling Ingredients by 28.3% in the fourth quarter. Ninety One UK Ltd now owns 518,796 shares of the company's stock worth $18,677,000 after acquiring an additional 114,397 shares in the last quarter. Finally, Strs Ohio increased its position in shares of Darling Ingredients by 7,554.6% during the first quarter. Strs Ohio now owns 286,740 shares of the company's stock worth $17,735,000 after acquiring an additional 282,994 shares during the period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Company Profile

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.