Darling Ingredients Inc. (NYSE:DAR) Sees Large Decrease in Short Interest

Darling Ingredients Inc. (NYSE:DAR) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 9,510,000 shares, a decline of 9.6% from the May 31st total of 10,520,000 shares. Based on an average daily trading volume, of 2,580,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 6.0% of the company’s shares are sold short.

Institutional Trading of Darling Ingredients

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Hawaiian Bank bought a new position in shares of Darling Ingredients in the 2nd quarter worth about $502,000. Community Trust & Investment Co. lifted its holdings in Darling Ingredients by 6.0% in the first quarter. Community Trust & Investment Co. now owns 179,416 shares of the company’s stock worth $8,345,000 after acquiring an additional 10,206 shares during the last quarter. Swedbank AB acquired a new position in Darling Ingredients in the first quarter valued at approximately $14,676,000. Tidal Investments LLC bought a new position in shares of Darling Ingredients during the first quarter valued at approximately $1,462,000. Finally, Vancity Investment Management Ltd raised its position in shares of Darling Ingredients by 31.9% during the 1st quarter. Vancity Investment Management Ltd now owns 23,955 shares of the company’s stock worth $1,114,000 after purchasing an additional 5,793 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DAR. Scotiabank lowered their price target on Darling Ingredients from $73.00 to $57.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. Stifel Nicolaus lowered their target price on Darling Ingredients from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Citigroup raised Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lowered their price objective on shares of Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Finally, TD Cowen reduced their target price on shares of Darling Ingredients from $51.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Darling Ingredients has an average rating of “Moderate Buy” and a consensus price target of $68.45.

Darling Ingredients Stock Down 0.8 %

Shares of NYSE:DAR traded down $0.29 during midday trading on Wednesday, reaching $36.91. The company had a trading volume of 1,200,914 shares, compared to its average volume of 2,295,910. The stock has a market capitalization of $5.90 billion, a P/E ratio of 11.05 and a beta of 1.26. The stock’s fifty day moving average price is $40.08 and its 200-day moving average price is $43.11. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.67 and a quick ratio of 0.96. Darling Ingredients has a one year low of $33.94 and a one year high of $71.60.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, April 25th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Darling Ingredients had a return on equity of 12.22% and a net margin of 8.46%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $1.16 EPS. Darling Ingredients’s revenue for the quarter was down 20.7% on a year-over-year basis. Equities research analysts expect that Darling Ingredients will post 2.67 earnings per share for the current fiscal 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.