Darling Ingredients Inc. (DAR) Receives “Buy” Rating from Canaccord Genuity
Darling Ingredients Inc. (NYSE:DAR)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a research report issued to clients and investors on Monday. They presently have a $18.00 target price on the stock. Canaccord Genuity’s price objective suggests a potential downside of 1.37% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Darling Ingredients in a research report on Wednesday, August 23rd. J P Morgan Chase & Co set a $19.00 price target on Darling Ingredients and gave the stock a “buy” rating in a research report on Monday, August 14th. BidaskClub lowered Darling Ingredients from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised Darling Ingredients from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $18.17.
Darling Ingredients (NYSE DAR) traded down 0.05% on Monday, reaching $18.25. 1,542,526 shares of the company’s stock traded hands. Darling Ingredients has a 12 month low of $11.51 and a 12 month high of $18.27. The firm’s 50 day moving average price is $17.03 and its 200 day moving average price is $15.81. The company has a market cap of $3.00 billion, a PE ratio of 35.85 and a beta of 1.60.
Darling Ingredients (NYSE:DAR) last announced its earnings results on Wednesday, August 9th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.05). The business had revenue of $896.30 million for the quarter, compared to the consensus estimate of $890.91 million. Darling Ingredients had a net margin of 2.39% and a return on equity of 3.99%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. On average, equities analysts expect that Darling Ingredients will post $0.44 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in Darling Ingredients by 7,798.7% in the 1st quarter. BlackRock Inc. now owns 20,437,790 shares of the company’s stock worth $296,758,000 after buying an additional 20,179,041 shares during the last quarter. Eagle Asset Management raised its position in Darling Ingredients by 91.6% in the 3rd 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 during the last quarter. FMR LLC raised its position in Darling Ingredients by 36.4% in the 2nd quarter. FMR LLC now owns 11,212,815 shares of the company’s stock worth $176,490,000 after buying an additional 2,990,750 shares during the last quarter. JPMorgan Chase & Co. raised its position in Darling Ingredients by 554.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,209,779 shares of the company’s stock worth $42,273,000 after buying an additional 2,719,416 shares during the last quarter. Finally, Norges Bank purchased a new position in Darling Ingredients in the 4th quarter worth about $31,718,000. 95.37% of the stock is owned by hedge funds and other institutional investors.
Darling Ingredients Company Profile
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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