Darling Ingredients (NYSE:DAR) Price Target Cut to $50.00 by Analysts at Piper Sandler

Key Points

• Piper Sandler has lowered its price target for Darling Ingredients from $54.00 to $50.00, while maintaining an "overweight" rating, indicating a potential upside of 44.14% from the stock's previous close.
• Several research firms have adjusted their ratings for Darling Ingredients, with Robert W. Baird reiterating a "neutral" rating and setting a target at $36.00, while Tudor Pickering upgraded it to a "strong-buy."
• The company reported a loss of $0.03 per share against analysts' expectations, with earnings of $0.09 per share for the last quarter, which is significantly lower than the previous year's earnings of $0.49 per share.

Darling Ingredients (NYSE:DAR - Get Free Report) had its price objective decreased by stock analysts at Piper Sandler from $54.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 54.28% from the company's current price.

Several other brokerages have also recently commented on DAR. Jefferies Financial Group boosted 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. Baird R W cut shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Tudor Pickering upgraded shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. TD Cowen lowered their price target on shares of Darling Ingredients from $37.00 to $34.00 and set a "hold" rating for the company in a report on Friday, April 25th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $36.00 price target (down previously from $40.00) on shares of Darling Ingredients in a report on Friday, July 25th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Darling Ingredients currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.86.

Darling Ingredients Price Performance

Darling Ingredients stock traded down $0.56 during mid-day trading on Monday, hitting $32.41. The stock had a trading volume of 1,761,386 shares, compared to its average volume of 2,391,975. The firm has a market capitalization of $5.13 billion, a P/E ratio of 49.10 and a beta of 1.23. Darling Ingredients has a one year low of $26.00 and a one year high of $43.49. The company has a current ratio of 1.40, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The firm's 50 day moving average is $35.25 and its 200 day moving average is $34.29.

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

Institutional Trading of Darling Ingredients

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAR. American Century Companies Inc. raised its position in Darling Ingredients by 1,003.0% in the 4th quarter. American Century Companies Inc. now owns 578,908 shares of the company's stock worth $19,503,000 after purchasing an additional 526,425 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Darling Ingredients in the 4th quarter worth about $1,088,000. LPL Financial LLC raised its position in Darling Ingredients by 13.6% in the 4th quarter. LPL Financial LLC now owns 33,100 shares of the company's stock worth $1,115,000 after purchasing an additional 3,954 shares during the period. Vanguard Group Inc. raised its position in Darling Ingredients by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 15,567,996 shares of the company's stock worth $524,486,000 after purchasing an additional 203,921 shares during the period. Finally, Norges Bank purchased a new stake in Darling Ingredients in the 4th quarter worth about $63,956,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

About Darling Ingredients

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.