Darling Ingredients (NYSE:DAR) Upgraded by Wall Street Zen to Buy Rating

Darling Ingredients (NYSE:DAR) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Several other research analysts have also recently weighed in on the stock. UBS Group upped their price target on shares of Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Scotiabank lifted their price objective on Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Stephens boosted their target price on Darling Ingredients from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Zacks Research upgraded Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. Finally, JPMorgan Chase & Co. upped their target price on Darling Ingredients from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Darling Ingredients presently has an average rating of “Moderate Buy” and a consensus price target of $67.82.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $56.53 on Friday. The company has a 50 day moving average of $58.73 and a 200 day moving average of $52.50. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The stock has a market cap of $8.98 billion, a P/E ratio of 40.97 and a beta of 1.04. Darling Ingredients has a 12 month low of $29.15 and a 12 month high of $66.02.

Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the company posted ($0.16) EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Darling Ingredients will post 4.68 EPS for the current fiscal year.

Insider Activity at Darling Ingredients

In other news, CAO Joseph Manzi sold 3,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $63.89, for a total value of $191,670.00. Following the transaction, the chief accounting officer owned 19,969 shares of the company’s stock, valued at $1,275,819.41. This represents a 13.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in Darling Ingredients by 4.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,209,775 shares of the company’s stock worth $43,552,000 after purchasing an additional 56,662 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new position in shares of Darling Ingredients during the 4th quarter valued at about $585,000. Ninety One UK Ltd increased its position in shares of Darling Ingredients by 28.3% during the 4th quarter. Ninety One UK Ltd now owns 518,796 shares of the company’s stock valued at $18,677,000 after purchasing an additional 114,397 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Darling Ingredients by 75.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 601,263 shares of the company’s stock valued at $18,561,000 after buying an additional 258,942 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Darling Ingredients by 26.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company’s stock valued at $47,179,000 after buying an additional 277,233 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

About Darling Ingredients

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.