Darling Ingredients Inc. (NYSE:DAR) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Darling Ingredients by 49.9%, owning 100,366 shares worth approximately $3.1 million after purchasing additional shares in Q1.
• Several analyst ratings on Darling Ingredients have changed, with Piper Sandler lowering their target price to $50.00 while Tudor Pickering upgraded the stock to a "strong-buy" rating.
• Darling Ingredients reported $0.09 EPS for the last quarter, missing the consensus estimate, and had a revenue of $1.48 billion, slightly below expectations.

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 49.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,366 shares of the company's stock after acquiring an additional 33,413 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Darling Ingredients worth $3,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. grew its stake in Darling Ingredients by 2.0% in the 1st quarter. Xponance Inc. now owns 20,183 shares of the company's stock worth $631,000 after acquiring an additional 393 shares during the period. State of Michigan Retirement System grew its position in shares of Darling Ingredients by 1.1% in the first quarter. State of Michigan Retirement System now owns 38,074 shares of the company's stock valued at $1,189,000 after purchasing an additional 400 shares during the period. Treasurer of the State of North Carolina lifted its position in Darling Ingredients by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 69,709 shares of the company's stock worth $2,348,000 after buying an additional 440 shares during the period. Spire Wealth Management boosted its stake in Darling Ingredients by 19.8% in the 1st quarter. Spire Wealth Management now owns 2,831 shares of the company's stock worth $88,000 after buying an additional 468 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Darling Ingredients by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 18,610 shares of the company's stock valued at $581,000 after buying an additional 470 shares during the period. Institutional investors and hedge funds own 94.44% of the company's stock.

Darling Ingredients Stock Down 4.9%

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

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.03). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Darling Ingredients had a net margin of 1.85% and a return on equity of 2.37%. Darling Ingredients's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. Sell-side analysts anticipate that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DAR. Tudor Pickering upgraded shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 11th. Robert W. Baird reaffirmed a "neutral" rating and set a $36.00 price target (down previously from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Piper Sandler decreased their price target on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, July 28th. Wall Street Zen upgraded Darling Ingredients from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Finally, TD Cowen cut their target price on Darling Ingredients from $37.00 to $34.00 and set a "hold" rating on the stock in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.