Roth Capital Analysts Reduce Earnings Estimates for Darling Ingredients Inc. (DAR)
Darling Ingredients Inc. (NYSE:DAR) – Roth Capital decreased their FY2016 earnings per share (EPS) estimates for Darling Ingredients in a report released on Monday. Roth Capital analyst C. Irwin now forecasts that the firm will earn $0.60 per share for the year, down from their previous forecast of $0.61. Roth Capital currently has a “Buy” rating and a $16.50 target price on the stock.
Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, November 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Darling Ingredients had a net margin of 4.40% and a return on equity of 7.34%. The business had revenue of $853.90 million for the quarter, compared to analysts’ expectations of $858.92 million. During the same period in the prior year, the company posted ($0.02) EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year.
Several other brokerages have also recently issued reports on DAR. 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 target on shares of Darling Ingredients and gave the stock a “buy” rating in a research note on Tuesday, November 8th. TheStreet lowered 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 target price on shares of Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, August 15th. Finally, BMO Capital Markets restated an “outperform” rating and set a $18.00 target price on shares of Darling Ingredients in a research report on Friday, September 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Darling Ingredients currently has a consensus rating of “Buy” and an average target price of $16.94.
Shares of Darling Ingredients (NYSE:DAR) opened at 13.54 on Tuesday. Darling Ingredients has a 1-year low of $7.78 and a 1-year high of $15.93. The firm has a 50-day moving average of $13.43 and a 200 day moving average of $14.35. The stock has a market capitalization of $2.23 billion, a PE ratio of 15.25 and a beta of 1.86.
In other Darling Ingredients 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 completion of the transaction, the executive vice president now directly owns 115,711 shares in the company, valued at $1,640,781.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.75% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. 1st Global Advisors Inc. increased its position in Darling Ingredients by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,717 shares of the company’s stock valued at $160,000 after buying an additional 57 shares during the period. Louisiana State Employees Retirement System increased its position in Darling Ingredients by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 72,900 shares of the company’s stock valued at $1,086,000 after buying an additional 200 shares during the period. Acrospire Investment Management LLC increased its position in Darling Ingredients by 9.5% in the second quarter. Acrospire Investment Management LLC now owns 6,900 shares of the company’s stock valued at $103,000 after buying an additional 600 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Darling Ingredients by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 55,080 shares of the company’s stock valued at $744,000 after buying an additional 790 shares during the period. Finally, PineBridge Investments L.P. increased its position in Darling Ingredients by 4.0% in the second quarter. PineBridge Investments L.P. now owns 20,870 shares of the company’s stock valued at $311,000 after buying an additional 811 shares during the period. Institutional investors and hedge funds own 96.80% of the company’s stock.
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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