Darling Ingredients Inc. (DAR) Downgraded by TheStreet to “Hold”
A number of other research firms have also commented on DAR. Canaccord Genuity reiterated a buy rating and set a $18.00 price target on shares of Darling Ingredients in a report on Wednesday, June 8th. Zacks Investment Research lowered shares of Darling Ingredients from a hold rating to a sell rating in a report on Monday, July 18th. JPMorgan Chase & Co. lowered their price target on shares of Darling Ingredients from $18.00 to $17.00 and set an overweight rating for the company in a report on Monday, August 15th. Goldman Sachs Group Inc. upgraded shares of Darling Ingredients from a neutral rating to a buy rating and upped their price target for the company from $16.00 to $18.00 in a report on Wednesday, June 29th. Finally, BMO Capital Markets reiterated an outperform rating and set a $18.00 price target on shares of Darling Ingredients in a report on Friday, September 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $16.94.
Darling Ingredients (NYSE:DAR) traded down 2.98% during midday trading on Thursday, hitting $13.33. 2,345,551 shares of the stock traded hands. The stock’s 50-day moving average price is $13.67 and its 200 day moving average price is $14.32. Darling Ingredients has a 52 week low of $7.78 and a 52 week high of $15.93. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 20.26 and a beta of 1.77.
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Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. Darling Ingredients had a net margin of 3.27% and a return on equity of 5.90%. The firm earned $877.50 million during the quarter, compared to analyst estimates of $875.85 million. During the same period in the previous year, the business posted $0.02 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Darling Ingredients will post $0.56 EPS for the current year.
In other Darling Ingredients news, EVP John Bullock sold 11,258 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $14.18, for a total transaction of $159,638.44. Following the transaction, the executive vice president now owns 115,711 shares in the company, valued at approximately $1,640,781.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.75% of the company’s stock.
Several institutional investors have recently modified their holdings of DAR. Nomura Holdings Inc. boosted its position in shares of Darling Ingredients by 62.2% in the second quarter. Nomura Holdings Inc. now owns 25,200 shares of the company’s stock valued at $377,000 after buying an additional 9,663 shares during the period. Mason Street Advisors LLC acquired a new position in shares of Darling Ingredients during the second quarter valued at $479,000. Public Employees Retirement System of Ohio boosted its position in shares of Darling Ingredients by 9.7% in the second quarter. Public Employees Retirement System of Ohio now owns 12,604 shares of the company’s stock valued at $188,000 after buying an additional 1,111 shares during the period. Sterling Capital Management LLC boosted its position in shares of Darling Ingredients by 3.0% in the second quarter. Sterling Capital Management LLC now owns 80,319 shares of the company’s stock valued at $1,197,000 after buying an additional 2,376 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Darling Ingredients by 9.3% in the second quarter. Amalgamated Bank now owns 19,392 shares of the company’s stock valued at $285,000 after buying an additional 1,654 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.
Darling Ingredients Company Profile
Darling Ingredients Inc, formerly Darling International Inc, is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. The Company offers a range of ingredients and specialty solutions for customers in the food, pet food, pharmaceutical, feed, fuel, bioenergy and fertilizer industries.
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