Darling Ingredients (NYSE:DAR) Now Covered by Bank of America

Key Points

• Bank of America has initiated coverage on Darling Ingredients, issuing a "buy" rating with a price target of $45.00, indicating a potential upside of 45.56% from its current price.
• The stock recently opened at $30.92 and has a twelve-month price range between $26.00 and $43.49.
• CEO Randall C. Stuewe sold 35,000 shares at an average price of $30.92, reducing his stake in the company by 4.29%.

Analysts at Bank of America initiated coverage on shares of Darling Ingredients (NYSE:DAR - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The firm set a "buy" rating and a $45.00 price target on the stock. Bank of America's price target would suggest a potential upside of 45.56% from the company's current price.

DAR has been the subject of several other reports. Piper Sandler cut their price objective on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Monday, July 28th. Tudor Pickering raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 11th. Robert W. Baird reaffirmed a "neutral" rating and issued a $36.00 price objective (down from $40.00) on shares of Darling Ingredients in a report on Friday, July 25th. JPMorgan Chase & Co. began coverage on shares of Darling Ingredients in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 target price on the stock. Finally, Baird R W cut shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

Darling Ingredients Stock Down 0.8%

Darling Ingredients stock opened at $30.92 on Wednesday. Darling Ingredients has a twelve month low of $26.00 and a twelve month high of $43.49. The firm has a 50 day moving average price of $31.95 and a 200-day moving average price of $33.00. The company has a market capitalization of $4.89 billion, a P/E ratio of 46.84 and a beta of 1.22. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.84.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Darling Ingredients had a net margin of 1.85% and a return on equity of 2.35%. The firm's revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 earnings per share. As a group, equities analysts predict that Darling Ingredients will post 2.81 EPS for the current year.

Insider Buying and Selling at Darling Ingredients

In other news, CEO Randall C. Stuewe sold 35,000 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $30.92, for a total transaction of $1,082,200.00. Following the sale, the chief executive officer owned 781,437 shares in the company, valued at approximately $24,162,032.04. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.07% of the company's stock.

Institutional Trading of Darling Ingredients

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. raised its position in shares of Darling Ingredients by 609.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 653 shares of the company's stock valued at $25,000 after buying an additional 561 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in Darling Ingredients in the 1st quarter worth $30,000. EverSource Wealth Advisors LLC raised its position in Darling Ingredients by 681.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,016 shares of the company's stock worth $39,000 after purchasing an additional 886 shares during the period. Hexagon Capital Partners LLC raised its position in Darling Ingredients by 33.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company's stock worth $62,000 after purchasing an additional 500 shares during the period. Finally, UMB Bank n.a. raised its position in Darling Ingredients by 207.1% in the 1st quarter. UMB Bank n.a. now owns 2,036 shares of the company's stock worth $64,000 after purchasing an additional 1,373 shares during the period. Hedge funds and other institutional investors own 94.44% of the company's stock.

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.

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