Darling Ingredients (NYSE:DAR) Reaches New 1-Year High Following Analyst Upgrade

Darling Ingredients Inc. (NYSE:DAR) shares reached a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $44.00 to $46.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Darling Ingredients traded as high as $42.87 and last traded at $41.8050, with a volume of 883 shares changing hands. The stock had previously closed at $41.62.

DAR has been the topic of a number of other reports. Piper Sandler decreased their price target on shares of Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Weiss Ratings restated a “sell (d)” rating on shares of Darling Ingredients in a research report on Wednesday, October 8th. TD Cowen upgraded Darling Ingredients from a “hold” rating to a “buy” rating in a research report on Tuesday, December 2nd. Jefferies Financial Group increased their price objective on Darling Ingredients from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Zacks Research cut shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.63.

Institutional Trading of Darling Ingredients

A number of institutional investors and hedge funds have recently bought and sold shares of DAR. No Street GP LP purchased a new position in shares of Darling Ingredients in the third quarter valued at approximately $69,458,000. Norges Bank purchased a new position in Darling Ingredients in the 2nd quarter valued at approximately $74,041,000. Marshall Wace LLP boosted its position in Darling Ingredients by 973.3% in the 2nd quarter. Marshall Wace LLP now owns 1,502,084 shares of the company’s stock valued at $56,989,000 after buying an additional 1,362,137 shares during the period. Frontier Capital Management Co. LLC grew its stake in shares of Darling Ingredients by 66.0% in the second quarter. Frontier Capital Management Co. LLC now owns 3,323,470 shares of the company’s stock worth $126,092,000 after acquiring an additional 1,320,817 shares in the last quarter. Finally, Harspring Capital Management LLC purchased a new stake in shares of Darling Ingredients during the second quarter worth $31,680,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Stock Up 0.9%

The business has a 50-day simple moving average of $36.79 and a 200-day simple moving average of $34.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.87 and a current ratio of 1.49. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 63.76, a price-to-earnings-growth ratio of 0.51 and a beta of 1.25.

Darling Ingredients (NYSE:DAR) last announced its quarterly 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). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.50 billion. Darling Ingredients had a net margin of 1.84% and a return on equity of 2.39%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. On average, equities analysts anticipate that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

Darling Ingredients Company 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.