Darling Ingredients Inc. $DAR Shares Sold by MAI Capital Management

MAI Capital Management lessened its stake in shares of Darling Ingredients Inc. (NYSE:DAR) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,939 shares of the company’s stock after selling 1,648 shares during the period. MAI Capital Management’s holdings in Darling Ingredients were worth $719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hantz Financial Services Inc. lifted its stake in shares of Darling Ingredients by 609.8% during the second quarter. Hantz Financial Services Inc. now owns 653 shares of the company’s stock worth $25,000 after buying an additional 561 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Darling Ingredients during the first quarter valued at $30,000. Parallel Advisors LLC increased its position in shares of Darling Ingredients by 45.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,172 shares of the company’s stock valued at $82,000 after acquiring an additional 674 shares during the period. Hilltop National Bank acquired a new position in shares of Darling Ingredients in the 2nd quarter valued at $106,000. Finally, GAMMA Investing LLC raised its stake in Darling Ingredients by 43.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,959 shares of the company’s stock worth $112,000 after acquiring an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Bank of America assumed coverage on Darling Ingredients in a research note on Wednesday, October 8th. They set a “buy” rating and a $45.00 price target on the stock. Jefferies Financial Group increased their price target on shares of Darling Ingredients from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Zacks Research upgraded shares of Darling Ingredients from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. UBS Group set a $50.00 target price on Darling Ingredients in a report on Monday, November 3rd. Finally, Piper Sandler lowered their price target on shares of Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Darling Ingredients presently has an average rating of “Moderate Buy” and an average target price of $44.11.

Darling Ingredients Stock Up 4.6%

DAR opened at $35.25 on Wednesday. Darling Ingredients Inc. has a twelve month low of $26.00 and a twelve month high of $42.28. The company has a 50-day moving average price of $32.44 and a 200 day moving average price of $33.49. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.84. The company has a market cap of $5.58 billion, a PE ratio of 52.62, a price-to-earnings-growth ratio of 2.35 and a beta of 1.30.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, October 23rd. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Darling Ingredients had a net margin of 1.84% and a return on equity of 2.41%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business earned $0.11 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts expect that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

About Darling Ingredients

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.