Joseph Manzi Sells 1,000 Shares of Darling Ingredients (NYSE:DAR) Stock

Key Points

• Insider sale: Chief Accounting Officer Joseph Manzi sold 1,000 Darling Ingredients shares for $67,270, reducing his direct holdings by 5.01% to 18,969 shares.
• Strong quarterly performance: Darling reported quarterly EPS of $2.41, beating estimates of $1.40, while revenue rose 16.4% year over year to $1.72 billion.
• Positive investor outlook: Shares traded near their 52-week high at $68.27, and analysts maintain a “Moderate Buy” consensus with a $69 average price target; institutional investors own 94.44% of the stock.

Darling Ingredients Inc. (NYSE:DAR - Get Free Report) CAO Joseph Manzi sold 1,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $67.27, for a total value of $67,270.00. Following the transaction, the chief accounting officer directly owned 18,969 shares of the company's stock, valued at $1,276,044.63. The trade was a 5.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Darling Ingredients Trading Up 0.9%

Shares of NYSE:DAR traded up $0.60 during trading on Tuesday, reaching $68.27. The stock had a trading volume of 1,900,451 shares, compared to its average volume of 2,623,093. The stock has a market cap of $10.77 billion, a P/E ratio of 18.40 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73. Darling Ingredients Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $68.59. The business has a fifty day moving average price of $59.11 and a 200-day moving average price of $57.77.

Darling Ingredients (NYSE:DAR - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $1.01. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. Darling Ingredients's revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, analysts anticipate that Darling Ingredients Inc. will post 6.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Darling Ingredients

Several hedge funds have recently modified their holdings of DAR. Empowered Funds LLC purchased a new position in Darling Ingredients during the 2nd quarter valued at about $2,940,000. Equitable Holdings Inc. acquired a new stake in shares of Darling Ingredients in the second quarter worth about $208,000. Public Employees Retirement System of Ohio bought a new stake in shares of Darling Ingredients during the 2nd quarter worth about $2,728,000. Capstone Investment Advisors LLC acquired a new position in shares of Darling Ingredients during the 2nd quarter valued at about $514,000. Finally, Corient Private Wealth LP acquired a new position in shares of Darling Ingredients during the 2nd quarter valued at about $481,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on DAR. Zacks Research lowered shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Scotiabank boosted their price target on Darling Ingredients from $61.00 to $70.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. TD Cowen upped their price target on Darling Ingredients from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Barclays lifted their price target on shares of Darling Ingredients from $62.00 to $65.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Stephens raised their target price on Darling Ingredients from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

About Darling Ingredients

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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