TheStreet Lowers Darling Ingredients Inc. (DAR) to Hold
Darling Ingredients Inc. (NYSE:DAR) was downgraded by equities research analysts at TheStreet from a “buy” rating to a “hold” rating in a report issued on Thursday.
A number of other analysts have also commented on DAR. JPMorgan Chase & Co. reduced their target price on Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, August 15th. Canaccord Genuity restated a “buy” rating and issued a $18.00 price target on shares of Darling Ingredients in a research note on Wednesday, June 8th. Zacks Investment Research upgraded Darling Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, September 5th. BMO Capital Markets restated an “outperform” rating and issued a $18.00 price target on shares of Darling Ingredients in a research note on Friday, September 16th. Finally, Roth Capital set a $16.50 price target on Darling Ingredients and gave the stock a “buy” rating in a research note on Monday, September 19th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $16.94.
Shares of Darling Ingredients (NYSE:DAR) traded down 2.98% during trading on Thursday, reaching $13.33. The company’s stock had a trading volume of 2,345,551 shares. The company has a market cap of $2.19 billion, a PE ratio of 20.26 and a beta of 1.77. The company has a 50 day moving average of $13.67 and a 200 day moving average of $14.32. Darling Ingredients has a 12-month low of $7.78 and a 12-month high of $15.93.
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Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, August 11th. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The business earned $877.50 million during the quarter, compared to analyst estimates of $875.85 million. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. On average, analysts anticipate that Darling Ingredients will post $0.56 EPS for the current fiscal year.
In other Darling Ingredients news, EVP John Bullock sold 11,258 shares of Darling Ingredients stock in a transaction that occurred on 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 of the company’s stock, valued at $1,640,781.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.75% of the company’s stock.
A number of institutional investors have recently modified their holdings of DAR. Acrospire Investment Management LLC increased its position in shares of Darling Ingredients by 9.5% in the second quarter. Acrospire Investment Management LLC now owns 6,900 shares of the company’s stock valued at $103,000 after buying an additional 600 shares in the last quarter. American Financial Group Inc. purchased a new position in shares of Darling Ingredients during the first quarter valued at $159,000. 1st Global Advisors Inc. increased its position in shares of Darling Ingredients by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,717 shares of the company’s stock valued at $160,000 after buying an additional 57 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Darling Ingredients during the second quarter valued at $164,000. Finally, Pinkerton Retirement Specialists LLC purchased a new position in shares of Darling Ingredients during the second quarter valued at $178,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.
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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