Darling Ingredients (NYSE:DAR) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Darling Ingredients reported quarterly EPS of $1.67, missing analysts’ $1.70 consensus by $0.03, while revenue of $1.79 billion matched expectations. The company posted a 9.13% net margin and 12.98% return on equity.
• Shares fell $0.49 to $55.18 following the results. The stock has traded between $31.48 and $69.98 over the past year and carries a market capitalization of approximately $8.71 billion.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $73.80. Recent target increases included TD Cowen and JPMorgan, both maintaining bullish ratings.

Darling Ingredients (NYSE:DAR - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $1.67 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.03), FiscalAI reports. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.79 billion.

Darling Ingredients Stock Performance

Shares of NYSE:DAR traded down $0.49 on Wednesday, reaching $55.18. 2,852,480 shares of the company's stock were exchanged, compared to its average volume of 2,577,501. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 14.87 and a beta of 1.04. Darling Ingredients has a fifty-two week low of $31.48 and a fifty-two week high of $69.98. The business's 50-day moving average is $62.85 and its two-hundred day moving average is $57.95. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73.

Insider Buying and Selling at Darling Ingredients

In other Darling Ingredients news, Director Charles L. Adair acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $60.97 per share, for a total transaction of $60,970.00. Following the completion of the purchase, the director directly owned 51,690 shares in the company, valued at $3,151,539.30. The trade was a 1.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Joseph Manzi sold 1,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total transaction of $67,270.00. Following the completion of the transaction, the chief accounting officer directly owned 18,969 shares in the company, valued at $1,276,044.63. This represents a 5.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 10,591 shares of company stock valued at $704,303. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

DAR has been the subject of several recent analyst reports. Barclays raised their target price on 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 lifted their price target on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Wall Street Zen raised shares of Darling Ingredients from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Stephens restated an "overweight" rating and issued a $80.00 target price on shares of Darling Ingredients in a research note on Thursday, October 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Darling Ingredients from $82.00 to $83.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Darling Ingredients presently has an average rating of "Moderate Buy" and a consensus price target of $73.80.

Darling Ingredients Company Profile

Darling Ingredients Inc NYSE: DAR is a global developer and producer of sustainable ingredients and renewable energy solutions. The company collects and transforms animal by-products, used cooking oil, food waste and other organic materials into value-added products, helping divert waste from landfills and recover materials for reuse.

Its products include fats, proteins, meals, collagen, gelatin and specialty ingredients used in animal feed, pet food, food, pharmaceuticals and industrial applications.

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.