Darling Ingredients (NYSE:DAR) Sets New 52-Week High - Here's What Happened

Darling Ingredients Inc. (NYSE:DAR - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $68.77 and last traded at $66.9380, with a volume of 2410673 shares traded. The stock had previously closed at $68.34.

Analysts Set New Price Targets

Several research firms have recently issued reports on DAR. Barclays raised their price target on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. TD Cowen increased their price objective on Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a report on Monday, July 27th. JPMorgan Chase & Co. raised their target price on Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. 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 report on Monday, May 4th. Finally, Wall Street Zen upgraded Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

Darling Ingredients Trading Down 2.1%

The stock has a market cap of $10.56 billion, a P/E ratio of 18.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. The firm's fifty day simple moving average is $59.47 and its 200-day simple moving average is $58.08.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The company 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 firm posted $0.08 EPS. The company's quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts expect that Darling Ingredients Inc. will post 6.98 EPS for the current fiscal year.

Insider Activity

In other news, EVP Patrick Mcnutt sold 8,000 shares of Darling Ingredients stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $67.09, for a total value of $536,720.00. Following the completion of the transaction, the executive vice president directly owned 35,777 shares of the company's stock, valued at approximately $2,400,278.93. This trade represents a 18.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas James Kemphaus sold 1,591 shares of Darling Ingredients stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the sale, the executive vice president owned 35,087 shares of the company's stock, valued at approximately $2,212,235.35. The trade was a 4.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,591 shares of company stock worth $704,303 in the last three months. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Darling Ingredients

Hedge funds and other institutional investors have recently bought and sold shares 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 valued at $20,119,000 after buying an additional 93,408 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Darling Ingredients by 10.9% in the first 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 acquired a new stake in Darling Ingredients in the first quarter valued at approximately $205,000. M&T Bank Corp increased its holdings in shares of 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 acquiring an additional 847 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of 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 acquiring an additional 32,553 shares in the last quarter. 94.44% of the stock is 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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