Darling Ingredients Inc. (DAR) Receives Average Recommendation of “Buy” from Brokerages
Darling Ingredients Inc. (NYSE:DAR) has received an average recommendation of “Buy” from the nine research firms that are presently covering the company. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $17.50.
Several research analysts recently commented on DAR shares. Zacks Investment Research upgraded shares of Darling Ingredients from a “sell” rating to a “hold” rating in a report on Monday, September 19th. TheStreet cut shares of Darling Ingredients from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. JPMorgan Chase & Co. cut their price target on shares of Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, August 15th. Canaccord Genuity set a $18.00 price target on shares of Darling Ingredients and gave the company a “buy” rating in a research note on Thursday, September 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 price target on shares of Darling Ingredients in a research note on Friday, September 16th.
In other news, EVP John Bullock sold 11,258 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $14.18, for a total transaction of $159,638.44. Following the completion of the sale, the executive vice president now owns 115,711 shares in the company, valued at approximately $1,640,781.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.75% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its position in Darling Ingredients by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,213,832 shares of the company’s stock worth $55,496,000 after buying an additional 130,207 shares in the last quarter. State Street Corp raised its position in Darling Ingredients by 3.0% in the first quarter. State Street Corp now owns 3,465,338 shares of the company’s stock worth $45,638,000 after buying an additional 99,909 shares in the last quarter. Royal Bank of Canada raised its position in Darling Ingredients by 11.6% in the first quarter. Royal Bank of Canada now owns 2,952,522 shares of the company’s stock worth $38,887,000 after buying an additional 307,976 shares in the last quarter. Geode Capital Management LLC raised its position in Darling Ingredients by 11.7% in the first quarter. Geode Capital Management LLC now owns 1,130,041 shares of the company’s stock worth $14,881,000 after buying an additional 117,984 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Darling Ingredients by 7.4% in the first quarter. Envestnet Asset Management Inc. now owns 431,824 shares of the company’s stock worth $5,687,000 after buying an additional 29,600 shares in the last quarter. Institutional investors own 95.35% of the company’s stock.
Darling Ingredients (NYSE:DAR) traded down 0.488% during mid-day trading on Monday, reaching $13.255. 250,416 shares of the company were exchanged. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 20.144 and a beta of 1.77. Darling Ingredients has a 12-month low of $7.78 and a 12-month high of $15.93. The company’s 50 day moving average price is $13.57 and its 200-day moving average price is $14.34.
Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, August 11th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Darling Ingredients had a net margin of 3.27% and a return on equity of 5.90%. The business earned $877.50 million during the quarter, compared to analysts’ expectations of $875.85 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Darling Ingredients will post $0.56 earnings per share for the current fiscal year.
About Darling Ingredients
Darling Ingredients Inc, formerly Darling International Inc, is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. The Company offers a range of ingredients and specialty solutions for customers in the food, pet food, pharmaceutical, feed, fuel, bioenergy and fertilizer industries.
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