Clear Harbor Asset Management LLC Acquires New Shares in Darling Ingredients Inc. $DAR

Clear Harbor Asset Management LLC bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 20,980 shares of the company’s stock, valued at approximately $648,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DAR. Hantz Financial Services Inc. increased its holdings in shares of Darling Ingredients by 609.8% in the second quarter. Hantz Financial Services Inc. now owns 653 shares of the company’s stock worth $25,000 after acquiring an additional 561 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Darling Ingredients during the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in shares of Darling Ingredients by 681.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,016 shares of the company’s stock valued at $39,000 after purchasing an additional 886 shares during the period. Byrne Asset Management LLC bought a new stake in Darling Ingredients during the 3rd quarter worth approximately $65,000. Finally, Parallel Advisors LLC raised its holdings in Darling Ingredients by 45.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,172 shares of the company’s stock worth $82,000 after buying an additional 674 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $39.07 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.49 and a quick ratio of 0.87. The business has a 50-day moving average of $35.33 and a 200-day moving average of $34.05. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 58.31, a PEG ratio of 0.42 and a beta of 1.25. 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 released its earnings results on Thursday, October 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.50 billion. Darling Ingredients had a return on equity of 2.39% and a net margin of 1.84%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. As a group, sell-side analysts predict that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DAR. UBS Group set a $50.00 price target on shares of Darling Ingredients in a report on Monday, November 3rd. Bank of America assumed coverage on shares of Darling Ingredients in a research note on Wednesday, October 8th. They issued a “buy” rating and a $45.00 target price for the company. Jefferies Financial Group increased their target price on Darling Ingredients from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, October 24th. TD Cowen upgraded Darling Ingredients from a “hold” rating to a “buy” rating and boosted their price target for the company from $34.00 to $45.00 in a report on Tuesday, December 2nd. Finally, Zacks Research raised Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Darling Ingredients Profile

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.