Darling Ingredients Inc. (DAR) Releases Earnings Results, Beats Estimates By $0.01 EPS
Darling Ingredients Inc. (NYSE:DAR) issued its quarterly earnings data on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The company had revenue of $853.90 million for the quarter, compared to analyst estimates of $858.92 million. Darling Ingredients had a net margin of 3.27% and a return on equity of 5.90%. Darling Ingredients’s revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share.
Shares of Darling Ingredients (NYSE:DAR) opened at 13.59 on Friday. Darling Ingredients has a 1-year low of $7.78 and a 1-year high of $15.93. The stock’s 50 day moving average is $13.42 and its 200 day moving average is $14.35. The firm has a market capitalization of $2.24 billion, a P/E ratio of 20.65 and a beta of 1.86.
Several equities analysts recently issued reports on DAR shares. Zacks Investment Research raised shares of Darling Ingredients from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Canaccord Genuity set a $18.00 price objective on shares of Darling Ingredients and gave the company a “buy” rating in a report on Tuesday. TheStreet lowered shares of Darling Ingredients from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. JPMorgan Chase & Co. cut their price objective on shares of Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 15th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $18.00 price objective on shares of Darling Ingredients in a report on Friday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Darling Ingredients has an average rating of “Buy” and a consensus target price of $16.94.
In other news, EVP John Bullock sold 11,258 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $14.18, for a total value of $159,638.44. Following the transaction, the executive vice president now directly owns 115,711 shares in the company, valued at approximately $1,640,781.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.75% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake 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 during the period. A.R.T. Advisors LLC raised its stake in Darling Ingredients by 241.0% in the first quarter. A.R.T. Advisors LLC now owns 309,722 shares of the company’s stock worth $4,079,000 after buying an additional 218,900 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Darling Ingredients during the first quarter worth about $267,000. Envestnet Asset Management Inc. raised its stake 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 during the period. Finally, Bayesian Capital Management LP raised its stake in Darling Ingredients by 56.1% in the first quarter. Bayesian Capital Management LP now owns 30,900 shares of the company’s stock worth $407,000 after buying an additional 11,100 shares during the period. Institutional investors own 95.23% 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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