Avantax Advisory Services Inc. Has $1.23 Million Stock Position in Darling Ingredients Inc. (NYSE:DAR)

Key Points

• Avantax Advisory Services Inc. increased its stake in Darling Ingredients by 34.5% during the 1st quarter, holding 39,496 shares valued at approximately $1.23 million.
• Several hedge funds and institutional investors have recently increased their positions in Darling Ingredients, collectively owning 94.44% of the company's stock.
• Wall Street analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a price target averaging $45.86.

Avantax Advisory Services Inc. increased its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 34.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,496 shares of the company's stock after acquiring an additional 10,125 shares during the period. Avantax Advisory Services Inc.'s holdings in Darling Ingredients were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Darling Ingredients by 148.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,393,153 shares of the company's stock valued at $148,005,000 after purchasing an additional 2,627,785 shares during the last quarter. Norges Bank acquired a new stake in Darling Ingredients during the fourth quarter worth about $63,956,000. Dimensional Fund Advisors LP grew its position in Darling Ingredients by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,453,845 shares of the company's stock worth $217,425,000 after buying an additional 791,157 shares in the last quarter. Franklin Resources Inc. grew its position in Darling Ingredients by 266.7% during the fourth quarter. Franklin Resources Inc. now owns 973,556 shares of the company's stock worth $32,799,000 after buying an additional 708,035 shares in the last quarter. Finally, Gates Capital Management Inc. grew its position in Darling Ingredients by 11.4% during the fourth quarter. Gates Capital Management Inc. now owns 6,668,443 shares of the company's stock worth $224,660,000 after buying an additional 682,529 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Stock Performance

NYSE:DAR traded down $1.54 during mid-day trading on Wednesday, hitting $30.17. The stock had a trading volume of 938,630 shares, compared to its average volume of 2,372,979. Darling Ingredients Inc. has a twelve month low of $26.00 and a twelve month high of $43.49. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 45.71 and a beta of 1.19. The company's 50 day simple moving average is $35.28 and its 200 day simple moving average is $34.13. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.40.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). Darling Ingredients had a net margin of 1.85% and a return on equity of 2.37%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The firm's revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Darling Ingredients Inc. will post 2.81 earnings per share for the current year.

Analysts Set New Price Targets

DAR has been the topic of a number of recent research reports. Robert W. Baird reissued a "neutral" rating and set a $36.00 target price (down from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Piper Sandler cut their price target on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Monday, July 28th. TD Cowen cut their price target on shares of Darling Ingredients from $37.00 to $34.00 and set a "hold" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group raised their price target on shares of Darling Ingredients from $45.00 to $46.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Tudor Pickering upgraded shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.86.

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.