Bank of Nova Scotia Invests $8.12 Million in Darling Ingredients Inc. $DAR

Bank of Nova Scotia purchased a new position in shares of Darling Ingredients Inc. (NYSE:DAR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 213,923 shares of the company’s stock, valued at approximately $8,116,000.

Several other institutional investors and hedge funds have also modified their holdings of DAR. Vontobel Holding Ltd. increased its position in shares of Darling Ingredients by 3.3% during the second quarter. Vontobel Holding Ltd. now owns 16,209 shares of the company’s stock worth $615,000 after acquiring an additional 524 shares in the last quarter. AlphaQuest LLC increased its holdings in Darling Ingredients by 11.6% during the 2nd quarter. AlphaQuest LLC now owns 5,310 shares of the company’s stock worth $201,000 after purchasing an additional 550 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Darling Ingredients by 609.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 653 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Darling Ingredients by 5.2% in the 2nd quarter. Central Pacific Bank Trust Division now owns 11,286 shares of the company’s stock valued at $428,000 after purchasing an additional 562 shares during the period. Finally, Sprott Inc. lifted its holdings in shares of Darling Ingredients by 9.9% in the first quarter. Sprott Inc. now owns 6,554 shares of the company’s stock valued at $205,000 after purchasing an additional 591 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DAR shares. JPMorgan Chase & Co. began coverage on shares of Darling Ingredients in a report on Wednesday, August 20th. They issued an “overweight” rating and a $43.00 price objective on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Darling Ingredients in a research report on Wednesday, October 8th. Zacks Research upgraded Darling Ingredients from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. UBS Group set a $50.00 target price on Darling Ingredients in a report on Monday, November 3rd. Finally, Bank of America assumed coverage on Darling Ingredients in a research report on Wednesday, October 8th. They set a “buy” rating and a $45.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

Darling Ingredients Stock Performance

NYSE DAR opened at $34.96 on Thursday. The firm’s fifty day moving average price is $33.48 and its two-hundred day moving average price is $33.66. The stock has a market cap of $5.53 billion, a PE ratio of 52.18, a PEG ratio of 2.65 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.87 and a current ratio of 1.49. Darling Ingredients Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $42.15.

Darling Ingredients (NYSE:DAR) last issued its earnings results on Thursday, October 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Darling Ingredients had a return on equity of 2.39% and a net margin of 1.84%.The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $0.11 EPS. Darling Ingredients’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts expect that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Darling Ingredients Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.