Darling Ingredients (NYSE:DAR) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Darling Ingredients from strong-buy to hold, even as other analysts remain more bullish overall. The stock still carries a Moderate Buy consensus with a target price of $67.82.
• Shares rose 1.3% and traded around $64.77, near the stock’s 52-week high of $66.02. The company has a market cap of about $10.29 billion.
• Darling Ingredients recently reported strong quarterly results, posting $0.83 EPS versus $0.56 expected and 12.3% year-over-year revenue growth. Analysts are forecasting 4.67 EPS for the current fiscal year.

Darling Ingredients (NYSE:DAR - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

DAR has been the subject of several other reports. Wall Street Zen raised Darling Ingredients from a "hold" rating to a "buy" rating in a report on Sunday, July 5th. Barclays lifted their price target on Darling Ingredients from $58.00 to $62.00 and gave the stock an "equal weight" rating in a report on Thursday, July 2nd. TD Cowen cut their price objective on Darling Ingredients from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their price objective on Darling Ingredients from $78.00 to $79.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group raised their target price on Darling Ingredients from $73.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $67.82.

Darling Ingredients Stock Up 1.3%

Darling Ingredients stock opened at $64.77 on Tuesday. Darling Ingredients has a fifty-two week low of $29.15 and a fifty-two week high of $66.02. The stock has a market cap of $10.29 billion, a PE ratio of 46.93 and a beta of 1.04. The firm's 50-day simple moving average is $58.45 and its 200 day simple moving average is $55.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.58.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business posted ($0.16) EPS. The company's revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts predict that Darling Ingredients will post 4.67 EPS for the current fiscal year.

Insider Activity

In related news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.89, for a total value of $191,670.00. Following the sale, the chief accounting officer owned 19,969 shares of the company's stock, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Darling Ingredients

A number of large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in shares of Darling Ingredients by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company's stock worth $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 raised its stake in 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 valued at $18,768,000 after acquiring an additional 58,925 shares during the period. Focus Partners Wealth bought a new stake in Darling Ingredients in the 1st quarter valued at about $205,000. M&T Bank Corp lifted its holdings in Darling Ingredients by 11.2% during the second quarter. M&T Bank Corp now owns 8,384 shares of the company's stock valued at $318,000 after purchasing an additional 847 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Darling Ingredients by 5.0% during the second quarter. Invesco Ltd. now owns 677,528 shares of the company's stock valued at $25,705,000 after purchasing an additional 32,553 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.

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