Darling Ingredients (NYSE:DAR) Stock Breaks Above Two Hundred Day Moving Average - Here's Why

Key Points

• Darling Ingredients shares broke above their 200-day moving average, reaching $61.93 compared with the $60.68 average, although they were last trading at $61.28 and remained below the 50-day average of $63.75.
• Analysts remain broadly positive, with 10 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $69.91. UBS and TD Cowen recently raised their targets to $88 and $80, respectively.
• The company reported strong quarterly results, earning $2.41 per share versus the $1.40 consensus estimate, while revenue rose 16.4% year over year to $1.72 billion. Institutional investors own 94.44% of the stock, while insiders sold 10,591 shares over the past three months.

Shares of Darling Ingredients Inc. (NYSE:DAR - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $60.68 and traded as high as $61.93. Darling Ingredients shares last traded at $61.2830, with a volume of 2,107,404 shares.

Analyst Ratings Changes

DAR has been the topic of a number of research analyst reports. Zacks Research lowered Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 18th. UBS Group boosted their price objective on Darling Ingredients from $78.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday. Wall Street Zen raised shares of Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. TD Cowen raised their price objective on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Barclays increased their target price on Darling Ingredients from $62.00 to $65.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $69.91.

Darling Ingredients Stock Down 0.7%

The firm has a 50 day simple moving average of $63.75 and a two-hundred day simple moving average of $60.68. The stock has a market capitalization of $9.67 billion, a P/E ratio of 16.52 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 (NYSE:DAR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $1.01. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the company posted $0.08 EPS. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities research analysts expect that Darling Ingredients Inc. will post 6.98 earnings per share for the current year.

Insider Activity at Darling Ingredients

In related news, EVP Nicholas Kemphaus sold 1,591 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 35,087 shares in the company, valued at $2,212,235.35. This represents a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles L. Adair acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $60.97 per share, with a total value of $60,970.00. Following the purchase, the director owned 51,690 shares in the company, valued at $3,151,539.30. The trade was a 1.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 10,591 shares of company stock worth $704,303 over the last three months. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. lifted its stake in Darling Ingredients by 5.0% in the second quarter. QRG Capital Management Inc. now owns 7,444 shares of the company's stock valued at $407,000 after buying an additional 357 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Darling Ingredients by 8.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,485 shares of the company's stock valued at $463,000 after acquiring an additional 651 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Darling Ingredients by 253.5% in the 2nd quarter. Tidal Investments LLC now owns 50,560 shares of the company's stock valued at $2,762,000 after acquiring an additional 36,256 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Darling Ingredients during the 2nd quarter valued at $328,000. Finally, Integrated Wealth Concepts LLC lifted its position in shares of Darling Ingredients by 9.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,149 shares of the company's stock valued at $718,000 after acquiring an additional 1,177 shares during the period. 94.44% of the stock is currently owned by institutional investors and hedge funds.

About Darling Ingredients

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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