Darling Ingredients (NYSE:DAR) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Darling Ingredients (NYSE:DAR) from a strong-buy rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently commented on DAR. JPMorgan Chase & Co. raised their price target on Darling Ingredients from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Zacks Research cut shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Stephens reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Darling Ingredients in a research report on Thursday, October 15th. Jefferies Financial Group upgraded shares of Darling Ingredients to a “strong-buy” rating in a research note on Tuesday, September 29th. Finally, UBS Group raised their target price on shares of Darling Ingredients from $78.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Darling Ingredients Trading Down 3.0%

Shares of NYSE:DAR opened at $54.08 on Friday. The company has a market capitalization of $8.53 billion, a P/E ratio of 9.99 and a beta of 1.04. Darling Ingredients has a 1 year low of $31.62 and a 1 year high of $69.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. The business’s 50 day simple moving average is $61.88 and its 200 day simple moving average is $58.27.

Darling Ingredients (NYSE:DAR) last released its earnings results on Wednesday, October 28th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03). The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.79 billion. Darling Ingredients had a net margin of 12.48% and a return on equity of 17.76%. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, research analysts anticipate that Darling Ingredients will post 6.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Darling Ingredients news, EVP Nicholas Kemphaus sold 1,591 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $63.05, for a total transaction of $100,312.55. Following the completion of the transaction, the executive vice president owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. The trade was a 4.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick McNutt sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the completion of the sale, the executive vice president owned 35,777 shares in the company, valued at approximately $2,400,278.93. The trade was a 18.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 10,591 shares of company stock valued at $704,303. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Darling Ingredients

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Darling Ingredients in the second quarter valued at about $851,450,000. Dimensional Fund Advisors LP lifted its stake in shares of Darling Ingredients by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company’s stock worth $498,927,000 after acquiring an additional 47,565 shares during the period. Deutsche Bank AG acquired a new position in shares of Darling Ingredients in the second quarter worth approximately $168,348,000. Bank of America Corp DE bought a new stake in Darling Ingredients in the second quarter valued at approximately $129,371,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Darling Ingredients by 5.8% in the second quarter. Assenagon Asset Management S.A. now owns 2,212,634 shares of the company’s stock valued at $120,854,000 after acquiring an additional 120,674 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Company Profile

Darling Ingredients Inc (NYSE: DAR) is a global developer and producer of sustainable ingredients and renewable energy solutions. The company collects and transforms animal by-products, used cooking oil, food waste and other organic materials into value-added products, helping divert waste from landfills and recover materials for reuse.

Its products include fats, proteins, meals, collagen, gelatin and specialty ingredients used in animal feed, pet food, food, pharmaceuticals and industrial applications.