Darling Ingredients Inc. (DAR) Upgraded to Buy by Zacks Investment Research
Darling Ingredients Inc. (NYSE:DAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $19.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.64% from the stock’s previous close.
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. “
DAR has been the subject of several other reports. BidaskClub lowered Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Robert W. Baird restated an “outperform” rating and set a $20.00 target price on shares of Darling Ingredients in a research report on Wednesday, August 23rd. J P Morgan Chase & Co lowered Darling Ingredients from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $18.00 in a research report on Friday, October 6th. Finally, Canaccord Genuity restated a “buy” rating and set a $18.00 target price on shares of Darling Ingredients in a research report on Monday, September 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Darling Ingredients has a consensus rating of “Buy” and a consensus target price of $18.50.
Shares of Darling Ingredients (NYSE DAR) traded up 0.06% during midday trading on Wednesday, reaching $16.72. 1,078,873 shares of the company’s stock were exchanged. Darling Ingredients has a 1-year low of $11.51 and a 1-year high of $18.65. The company has a market capitalization of $2.75 billion, a PE ratio of 32.85 and a beta of 1.57. The firm has a 50-day moving average of $17.58 and a 200-day moving average of $16.18.
Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data 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 firm had revenue of $896.30 million during the quarter, compared to analyst estimates of $890.91 million. Darling Ingredients had a return on equity of 3.99% and a net margin of 2.39%. Darling Ingredients’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. Equities analysts expect that Darling Ingredients will post $0.40 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of Darling Ingredients during the 1st quarter valued at about $146,000. Miles Capital Inc. lifted its holdings in shares of Darling Ingredients by 0.3% during the 1st quarter. Miles Capital Inc. now owns 10,112 shares of the company’s stock valued at $147,000 after purchasing an additional 28 shares in the last quarter. Delta Capital Management LLC bought a new position in shares of Darling Ingredients during the 2nd quarter valued at about $157,000. Malaga Cove Capital LLC bought a new position in shares of Darling Ingredients during the 2nd quarter valued at about $167,000. Finally, World Asset Management Inc lifted its holdings in shares of Darling Ingredients by 2.3% during the 2nd quarter. World Asset Management Inc now owns 10,711 shares of the company’s stock valued at $169,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.
About Darling Ingredients
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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