Canaccord Genuity Reaffirms Buy Rating for Darling Ingredients Inc. (DAR)
Darling Ingredients Inc. (NYSE:DAR)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity in a research note issued to investors on Monday. They presently have a $18.00 price target on the stock. Canaccord Genuity’s target price suggests a potential downside of 1.37% from the company’s current price.
Several other equities research analysts have also weighed in on DAR. BidaskClub raised Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised Darling Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. Robert W. Baird reissued an “outperform” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Darling Ingredients in a report on Friday, August 11th. Finally, J P Morgan Chase & Co set a $19.00 price objective on Darling Ingredients and gave the stock a “buy” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Darling Ingredients has an average rating of “Buy” and a consensus target price of $18.17.
Darling Ingredients (NYSE:DAR) traded down 0.05% during trading on Monday, hitting $18.25. 1,542,526 shares of the company traded hands. Darling Ingredients has a 12-month low of $11.51 and a 12-month high of $18.27. The stock has a 50 day moving average price of $17.03 and a 200 day moving average price of $15.81. The company has a market capitalization of $3.00 billion, a P/E ratio of 35.85 and a beta of 1.60.
Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). Darling Ingredients had a return on equity of 3.99% and a net margin of 2.39%. The firm had revenue of $896.30 million during the quarter, compared to analysts’ expectations of $890.91 million. During the same period last year, the business posted $0.19 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Darling Ingredients will post $0.44 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new position in Darling Ingredients during the 1st quarter valued at about $146,000. Miles Capital Inc. grew its holdings in Darling Ingredients by 0.3% during the 1st quarter. Miles Capital Inc. now owns 10,112 shares of the company’s stock valued at $147,000 after buying an additional 28 shares in the last quarter. World Asset Management Inc grew its holdings in Darling Ingredients by 0.9% during the 1st quarter. World Asset Management Inc now owns 10,474 shares of the company’s stock valued at $152,000 after buying an additional 94 shares in the last quarter. Delta Capital Management LLC purchased a new position in Darling Ingredients during the 2nd quarter valued at about $157,000. Finally, Malaga Cove Capital LLC purchased a new position in Darling Ingredients during the 2nd quarter valued at about $167,000. 95.37% of the stock is owned by institutional investors and hedge funds.
Darling Ingredients Company Profile
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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