Darling Ingredients Inc. (DAR) Upgraded to Hold by Zacks Investment Research
Darling Ingredients Inc. (NYSE:DAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Darling Ingredients Inc. is a provider of rendering, cooking oil and bakery waste recycling and recovery solutions. It collects and transforms all aspects of animal by-product streams into broadly used and specialty ingredients, such as gelatin, edible fats, feed-grade fats, animal proteins and meals, plasma, pet food ingredients, organic fertilizers, yellow grease, fuel feedstock, green energy, natural casings and hides. The Company also provides grease trap services to food service establishments, environmental services to food processors and sells restaurant cooking oil delivery and collection equipment. Darling Ingredients Inc., formerly known as Darling International Inc., is headquartered in Irving, Texas. “
Several other brokerages have also issued reports on DAR. TheStreet lowered Darling Ingredients from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. JPMorgan Chase & Co. lowered their price objective on Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 15th. Canaccord Genuity set a $18.00 price objective on Darling Ingredients and gave the stock a “buy” rating in a research report on Thursday, September 15th. BMO Capital Markets reissued an “outperform” rating and issued a $18.00 price objective on shares of Darling Ingredients in a research report on Friday, September 16th. Finally, Roth Capital set a $16.50 price objective on Darling Ingredients and gave the stock a “buy” rating in a research report on Monday, September 19th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $16.94.
Shares of Darling Ingredients (NYSE:DAR) traded up 0.08% during midday trading on Monday, reaching $13.33. The company’s stock had a trading volume of 954,394 shares. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 20.26 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 stock has a 50-day moving average of $13.57 and a 200 day moving average of $14.34.
Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The business earned $877.50 million during the quarter, compared to analyst estimates of $875.85 million. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. Darling Ingredients’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. On average, analysts predict that Darling Ingredients will post $0.56 earnings per share for the current fiscal year.
In other Darling Ingredients news, EVP John Bullock sold 11,258 shares of Darling Ingredients stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $14.18, for a total transaction of $159,638.44. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.75% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in DAR. JPMorgan Chase & Co. increased its position in Darling Ingredients by 554.6% in the first quarter. JPMorgan Chase & Co. now owns 3,209,779 shares of the company’s stock worth $42,273,000 after buying an additional 2,719,416 shares during the period. Dimensional Fund Advisors LP increased its position in Darling Ingredients by 28.1% in the second quarter. Dimensional Fund Advisors LP now owns 9,934,020 shares of the company’s stock worth $148,015,000 after buying an additional 2,178,258 shares during the period. Loomis Sayles & Co. L P increased its position in Darling Ingredients by 211.2% in the second quarter. Loomis Sayles & Co. L P now owns 1,853,005 shares of the company’s stock worth $27,610,000 after buying an additional 1,257,477 shares during the period. Ameriprise Financial Inc. increased its position in Darling Ingredients by 70.6% in the second quarter. Ameriprise Financial Inc. now owns 2,792,266 shares of the company’s stock worth $41,604,000 after buying an additional 1,155,824 shares during the period. Finally, Carlson Capital L P bought a new position in Darling Ingredients during the second quarter worth about $16,390,000. Institutional investors and hedge funds own 95.35% of the company’s stock.
Darling Ingredients Company Profile
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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