Darling Ingredients (NYSE:DAR) Raised to “Buy” at TD Cowen

Darling Ingredients (NYSE:DAR) was upgraded by stock analysts at TD Cowen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $45.00 target price on the stock, up from their prior target price of $34.00. TD Cowen’s target price suggests a potential upside of 22.86% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Zacks Research raised Darling Ingredients from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. JPMorgan Chase & Co. began coverage on shares of Darling Ingredients in a research note on Wednesday, August 20th. They issued an “overweight” rating and a $43.00 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Darling Ingredients in a report on Wednesday, October 8th. Piper Sandler decreased their price objective on Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Cowen upgraded shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and an average price target of $45.33.

Darling Ingredients Price Performance

Shares of DAR stock opened at $36.63 on Tuesday. The stock’s fifty day moving average is $33.02 and its 200-day moving average is $33.55. The stock has a market capitalization of $5.79 billion, a PE ratio of 54.67, a PEG ratio of 2.58 and a beta of 1.29. Darling Ingredients has a 52 week low of $26.00 and a 52 week high of $42.15. 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 (NYSE:DAR) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Darling Ingredients had a net margin of 1.84% and a return on equity of 2.39%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company earned $0.11 EPS. Darling Ingredients’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts expect that Darling Ingredients will post 2.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. increased its position in Darling Ingredients by 609.8% during the second quarter. Hantz Financial Services Inc. now owns 653 shares of the company’s stock worth $25,000 after purchasing an additional 561 shares during the last quarter. Danske Bank A S purchased a new position in Darling Ingredients in the third quarter worth approximately $25,000. Sound Income Strategies LLC acquired a new stake in Darling Ingredients in the third quarter valued at $29,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Darling Ingredients during the first quarter worth approximately $30,000. Finally, EverSource Wealth Advisors LLC boosted its holdings 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 buying an additional 886 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

About Darling Ingredients

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.