Darling Ingredients Inc. (NYSE:DAR) Shares Acquired by Sycomore Asset Management

Sycomore Asset Management boosted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 282.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,652 shares of the company’s stock after purchasing an additional 47,753 shares during the period. Sycomore Asset Management’s holdings in Darling Ingredients were worth $2,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DAR. Envestnet Portfolio Solutions Inc. increased its stake in Darling Ingredients by 23.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,404 shares of the company’s stock valued at $484,000 after buying an additional 1,960 shares during the period. Quantbot Technologies LP acquired a new position in Darling Ingredients in the 1st quarter valued at approximately $457,000. QRG Capital Management Inc. increased its stake in Darling Ingredients by 16.9% in the 1st quarter. QRG Capital Management Inc. now owns 6,103 shares of the company’s stock valued at $284,000 after buying an additional 883 shares during the period. Russell Investments Group Ltd. increased its stake in Darling Ingredients by 0.3% in the 1st quarter. Russell Investments Group Ltd. now owns 287,893 shares of the company’s stock valued at $13,372,000 after buying an additional 811 shares during the period. Finally, Entropy Technologies LP acquired a new position in Darling Ingredients in the 1st quarter valued at approximately $348,000. 94.44% of the stock is owned by institutional investors and hedge funds.

Darling Ingredients Trading Down 1.5 %

Darling Ingredients stock traded down $0.65 during mid-day trading on Thursday, hitting $41.35. 190,151 shares of the stock were exchanged, compared to its average volume of 2,151,145. The firm’s fifty day simple moving average is $37.59 and its two-hundred day simple moving average is $38.63. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 25.93 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. Darling Ingredients Inc. has a 12 month low of $32.67 and a 12 month high of $51.36.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Darling Ingredients’s revenue was down 12.5% compared to the same quarter last year. Analysts forecast that Darling Ingredients Inc. will post 1.88 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on DAR. TD Cowen dropped their price target 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. Piper Sandler dropped their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Jefferies Financial Group increased their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

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.