Darling Ingredients Inc. (DAR) Upgraded to Hold at Zacks Investment Research
Darling Ingredients Inc. (NYSE:DAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Darling Ingredients Inc. is a provider of rendering, cooking oil and bakery waste recycling and recovery solutions. It collects and transforms all aspects of animal by-product streams into broadly used and specialty ingredients, such as gelatin, edible fats, feed-grade fats, animal proteins and meals, plasma, pet food ingredients, organic fertilizers, yellow grease, fuel feedstock, green energy, natural casings and hides. The Company also provides grease trap services to food service establishments, environmental services to food processors and sells restaurant cooking oil delivery and collection equipment. Darling Ingredients Inc., formerly known as Darling International Inc., is headquartered in Irving, Texas. “
Several other research firms have also recently commented on DAR. JPMorgan Chase & Co. cut their target price on Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, August 15th. TheStreet upgraded Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Goldman Sachs Group Inc. upgraded Darling Ingredients from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.00 to $18.00 in a research note on Wednesday, June 29th. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 price objective on shares of Darling Ingredients in a research note on Friday, September 16th. Finally, Canaccord Genuity set a $18.00 price objective on Darling Ingredients and gave the stock a “buy” rating in a research note on Thursday, September 15th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Darling Ingredients currently has a consensus rating of “Buy” and a consensus target price of $16.94.
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Shares of Darling Ingredients (NYSE:DAR) traded up 0.08% during midday trading on Monday, hitting $13.33. 954,394 shares of the stock traded hands. The company has a market capitalization of $2.19 billion, a PE ratio of 20.26 and a beta of 1.77. Darling Ingredients has a 12-month low of $7.78 and a 12-month high of $15.93. The firm’s 50 day moving average price is $13.57 and its 200 day moving average price is $14.34.
Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, August 11th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $877.50 million for the quarter, compared to analysts’ expectations of $875.85 million. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. Analysts expect that Darling Ingredients will post $0.56 EPS for the current year.
In related news, EVP John Bullock sold 11,258 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $14.18, for a total transaction of $159,638.44. Following the transaction, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at approximately $1,640,781.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.75% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of DAR. Vanguard Group Inc. raised its position in shares of Darling Ingredients by 5.3% in the second quarter. Vanguard Group Inc. now owns 13,581,089 shares of the company’s stock worth $202,358,000 after buying an additional 679,195 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Darling Ingredients by 3.5% in the second quarter. BlackRock Fund Advisors now owns 10,900,258 shares of the company’s stock worth $162,414,000 after buying an additional 370,913 shares in the last quarter. FMR LLC raised its position in shares of Darling Ingredients by 4.5% in the second quarter. FMR LLC now owns 10,018,466 shares of the company’s stock worth $149,276,000 after buying an additional 429,359 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Darling Ingredients by 28.1% in the second quarter. Dimensional Fund Advisors LP now owns 9,934,020 shares of the company’s stock worth $148,015,000 after buying an additional 2,178,258 shares in the last quarter. Finally, Eagle Asset Management raised its position in shares of Darling Ingredients by 91.6% in the third quarter. Eagle Asset Management now owns 9,301,148 shares of the company’s stock worth $104,544,000 after buying an additional 4,445,658 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.
About Darling Ingredients
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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