Darling Ingredients (NYSE:DAR) Price Target Raised to $79.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised Darling Ingredients’ price target from $78 to $79 and kept an overweight rating, implying about 23.6% upside from the current share price.
• Other analysts have also turned more positive on the stock, with several recent price-target hikes from firms including UBS, TD Cowen, Jefferies, and BMO Capital Markets. MarketBeat says the consensus rating is Buy with an average target of $69.
• Darling Ingredients reported better-than-expected Q1 earnings, posting $0.83 per share versus the $0.56 estimate, while revenue rose 12.3% year over year to $1.55 billion.

Darling Ingredients (NYSE:DAR - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $78.00 to $79.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 23.57% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets boosted their price objective on Darling Ingredients from $45.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. UBS Group boosted their target price on Darling Ingredients from $58.00 to $78.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. TD Cowen boosted their price objective on Darling Ingredients from $72.00 to $76.00 and gave the company a "buy" rating in a report on Monday, May 4th. Jefferies Financial Group lifted their target price on Darling Ingredients from $73.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Darling Ingredients in a research note on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $69.00.

Darling Ingredients Price Performance

Shares of NYSE:DAR traded up $0.11 during midday trading on Tuesday, reaching $63.93. 299,870 shares of the company were exchanged, compared to its average volume of 2,878,781. The stock has a market cap of $10.15 billion, a PE ratio of 46.29 and a beta of 1.07. Darling Ingredients has a one year low of $29.15 and a one year high of $66.02. The company has a current ratio of 4.64, a quick ratio of 0.99 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $59.07 and its two-hundred day moving average is $46.25.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.27. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Darling Ingredients had a return on equity of 5.76% and a net margin of 3.54%.The business's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. As a group, analysts predict that Darling Ingredients will post 4.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Randall C. Stuewe sold 20,000 shares of the firm's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $52.12, for a total transaction of $1,042,400.00. Following the transaction, the chief executive officer owned 1,117,085 shares in the company, valued at approximately $58,222,470.20. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the sale, the chief accounting officer owned 19,969 shares of the company's stock, valued at $1,275,819.41. The trade was a 13.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Danske Bank A S bought a new position in Darling Ingredients in the third quarter worth approximately $25,000. Allworth Financial LP boosted its position in Darling Ingredients by 227.2% during the 4th quarter. Allworth Financial LP now owns 733 shares of the company's stock valued at $26,000 after acquiring an additional 509 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 174 shares during the period. Litman Gregory Wealth Management LLC purchased a new position in shares of Darling Ingredients in the 4th quarter valued at $29,000. Finally, Leonteq Securities AG bought a new position in shares of Darling Ingredients in the 4th quarter worth $35,000. 94.44% of the stock is currently owned by 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.

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