Brokerages Set Darling Ingredients Inc. (NYSE:DAR) PT at $60.10

Shares of Darling Ingredients Inc. (NYSE:DAR) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $60.10.

A number of brokerages recently issued reports on DAR. Jefferies Financial Group decreased their price objective on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, July 26th. Scotiabank lowered their price target on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Citigroup raised shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, June 12th. Finally, TD Cowen lowered their target price on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, September 13th.

Insider Buying and Selling

In related news, EVP Robert W. Day purchased 2,532 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $39.37 per share, with a total value of $99,684.84. Following the completion of the acquisition, the executive vice president now owns 12,607 shares of the company’s stock, valued at $496,337.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Darling Ingredients

Several hedge funds have recently modified their holdings of DAR. Vanguard Group Inc. raised its holdings in Darling Ingredients by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 15,610,753 shares of the company’s stock worth $726,056,000 after buying an additional 232,583 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Darling Ingredients by 52.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock valued at $192,445,000 after acquiring an additional 1,800,809 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Darling Ingredients by 24.9% in the 1st quarter. Bank of New York Mellon Corp now owns 4,279,247 shares of the company’s stock valued at $199,028,000 after acquiring an additional 851,886 shares in the last quarter. Earnest Partners LLC boosted its stake in Darling Ingredients by 14.0% in the 2nd quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock worth $140,725,000 after purchasing an additional 470,170 shares during the period. Finally, Norges Bank purchased a new position in Darling Ingredients during the 4th quarter worth approximately $94,650,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $36.75 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.57 and a quick ratio of 0.91. The firm has a market capitalization of $5.87 billion, a PE ratio of 11.00 and a beta of 1.24. Darling Ingredients has a 1-year low of $32.67 and a 1-year high of $56.34. The business’s fifty day moving average price is $38.04 and its two-hundred day moving average price is $40.30.

Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $1.55 EPS. Darling Ingredients’s revenue was down 17.2% on a year-over-year basis. On average, research analysts expect that Darling Ingredients will post 2.47 EPS for the current year.

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.