Darling International Upgraded to Buy at Canaccord Genuity (DAR)
Darling International (NYSE:DAR) was upgraded by Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $25.00 target price on the stock, up from their previous target price of $22.00. Canaccord Genuity’s price target would suggest a potential upside of 20.48% from the stock’s previous close.
The analysts wrote, “We are upgrading to BUY as the acquisition of Rothsay marks another key milestone in Darling’s growth strategy, with the company deepening its footprint in No. America while improving supply-side visibility and further de-risking the story now with DGD operational. Management has pulled-off bigger deals with no issues (leverage still remains low) and we like the aggressive approach here.”
Shares of Darling International (NYSE:DAR) traded up 1.59% during mid-day trading on Monday, hitting $21.08. 379,573 shares of the company’s stock traded hands. Darling International has a 52 week low of $15.09 and a 52 week high of $22.20. The stock’s 50-day moving average is $20.25 and its 200-day moving average is $18.6. The company has a market cap of $2.492 billion and a price-to-earnings ratio of 19.59.
Darling International (NYSE:DAR) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.04. The company had revenue of $423.60 million for the quarter, compared to the consensus estimate of $435.72 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts predict that Darling International will post $1.16 earnings per share for the current fiscal year.
Separately, analysts at Wedbush initiated coverage on shares of Darling International in a research note to investors on Thursday, June 20th. They set an “outperform” rating and a $23.00 price target on the stock.
Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Darling International presently has an average rating of “Buy” and an average price target of $20.50.
Darling International Inc (NYSE:DAR) is a provider of rendering, cooking oil and bakery waste recycling and recovery solutions.
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