Tidal Investments LLC Boosts Stock Holdings in Darling Ingredients Inc. $DAR

Key Points

• Tidal Investments increased its Darling Ingredients stake by 253.5% in the second quarter, bringing its holdings to 50,560 shares valued at approximately $2.76 million. Institutional investors collectively own 94.44% of the stock.
• Analyst sentiment is favorable, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $69.00. TD Cowen raised its target to $80, while Wall Street Zen and Zacks Research upgraded the shares to “strong-buy.”
• Darling Ingredients reported second-quarter adjusted earnings of $2.41 per share, surpassing estimates of $1.40, while revenue rose 16.4% year over year to $1.72 billion. Shares opened at $66.53, near their 52-week high of $69.98.

Tidal Investments LLC raised its position in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 253.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,560 shares of the company's stock after purchasing an additional 36,256 shares during the period. Tidal Investments LLC's holdings in Darling Ingredients were worth $2,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of DAR. BlackRock Inc. bought a new stake in Darling Ingredients in the 2nd quarter valued at about $851,450,000. AIA Group Ltd bought a new stake in shares of Darling Ingredients in the first quarter valued at approximately $4,453,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Darling Ingredients during the 4th quarter valued at approximately $585,000. BNP Paribas Financial Markets boosted its holdings in Darling Ingredients by 26.8% in the 4th quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company's stock worth $47,179,000 after buying an additional 277,233 shares during the period. Finally, Strs Ohio grew its stake in Darling Ingredients by 7,554.6% in the 1st quarter. Strs Ohio now owns 286,740 shares of the company's stock valued at $17,735,000 after buying an additional 282,994 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DAR has been the subject of a number of analyst reports. Wall Street Zen raised Darling Ingredients from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Zacks Research raised Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 19th. Barclays lifted their target price on Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. TD Cowen lifted their price objective on Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Darling Ingredients Stock Up 2.5%

NYSE DAR opened at $66.53 on Wednesday. Darling Ingredients Inc. has a 1 year low of $29.15 and a 1 year high of $69.98. The stock has a market capitalization of $10.50 billion, a PE ratio of 17.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. The business's 50-day moving average is $63.43 and its 200 day moving average is $60.16.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its quarterly earnings results 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 return on equity of 12.98% and a net margin of 9.13%.The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company posted $0.08 EPS. Darling Ingredients's quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Darling Ingredients Inc. will post 6.98 earnings per share for the current year.

Insiders Place Their Bets

In other Darling Ingredients news, Director Charles L. Adair purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $60.97 per share, with a total value of $60,970.00. Following the completion of the purchase, the director directly owned 51,690 shares of the company's stock, valued at $3,151,539.30. The trade was a 1.97% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas Kemphaus sold 1,591 shares of Darling Ingredients stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.05, for a total transaction of $100,312.55. Following the completion of the sale, the executive vice president owned 35,087 shares in the company, valued at approximately $2,212,235.35. This trade represents a 4.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,591 shares of company stock valued at $704,303 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Darling Ingredients Company Profile

Darling Ingredients Inc is a global developer and producer of sustainable ingredients derived from animal by-products, used cooking oil, food waste and other organic materials. The company collects and processes these materials into products used in animal feed, pet food, agriculture, food, fuel and industrial applications.

Its product portfolio includes protein meals, animal fats, feed-grade ingredients, fertilizer nutrients, gelatin and collagen products, and specialty ingredients. Darling also produces renewable diesel and other low-carbon fuels through its Diamond Green Diesel joint venture with Valero Energy, which converts waste fats, oils and greases into renewable fuels.

Founded in 1882, Darling Ingredients serves customers through operations spanning North America, South America, Europe, Asia and Australia.

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