Zacks Investment Research Downgrades Darling Ingredients Inc. (DAR) to Sell
Darling Ingredients Inc. (NYSE:DAR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
DAR has been the subject of several other research reports. Canaccord Genuity set a $18.00 price objective on Darling Ingredients and gave the company a “buy” rating in a research report on Thursday, September 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 price objective on shares of Darling Ingredients in a research report on Friday, September 16th. TheStreet upgraded Darling Ingredients from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Roth Capital set a $16.50 price objective on Darling Ingredients and gave the company a “buy” rating in a research report on Monday, September 19th. Finally, JPMorgan Chase & Co. decreased their target price on Darling Ingredients from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Darling Ingredients currently has a consensus rating of “Buy” and a consensus target price of $16.94.
Shares of Darling Ingredients (NYSE:DAR) opened at 13.62 on Tuesday. The company has a 50-day moving average of $13.48 and a 200 day moving average of $14.33. Darling Ingredients has a 52-week low of $7.78 and a 52-week high of $15.93. The firm has a market cap of $2.24 billion, a P/E ratio of 15.34 and a beta of 1.86.
Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Darling Ingredients had a return on equity of 7.34% and a net margin of 4.40%. The firm earned $853.90 million during the quarter, compared to the consensus estimate of $858.92 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The business’s revenue was up .0% on a year-over-year basis. On average, equities analysts expect that Darling Ingredients will post $0.56 earnings per share for the current year.
In related news, EVP John Bullock sold 11,258 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $14.18, for a total value of $159,638.44. Following the sale, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at $1,640,781.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.75% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Darling Ingredients by 114.0% in the first quarter. BlackRock Inc. now owns 16,659 shares of the company’s stock worth $220,000 after buying an additional 8,873 shares in the last quarter. State Street Corp boosted its stake 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. Geode Capital Management LLC boosted its stake 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. Envestnet Asset Management Inc. boosted 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Darling Ingredients during the first quarter worth approximately $267,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.
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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