Canaccord Genuity Analysts Give Darling Ingredients Inc. (DAR) a $18.00 Price Target
Several other analysts have also recently commented on DAR. JPMorgan Chase & Co. upgraded Darling Ingredients from a neutral rating to an overweight rating and raised their target price for the company from $14.00 to $18.00 in a research report on Thursday, May 26th. Zacks Investment Research upgraded Darling Ingredients from a sell rating to a hold rating in a research report on Tuesday, June 14th. Goldman Sachs Group Inc. upgraded Darling Ingredients from a neutral rating to a buy rating and raised their target price for the company from $16.00 to $18.00 in a research report on Wednesday, June 29th. Finally, TheStreet upgraded Darling Ingredients from a hold rating to a buy rating in a research report on Thursday, August 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $16.94.
Darling Ingredients (NYSE:DAR) opened at 12.96 on Thursday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 19.70 and a beta of 1.90. Darling Ingredients has a 1-year low of $7.78 and a 1-year high of $15.93. The company has a 50-day moving average price of $14.28 and a 200 day moving average price of $14.23.
Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, August 11th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. The firm had revenue of $877.50 million for the quarter, compared to analysts’ expectations of $875.85 million. During the same period last year, the firm earned $0.02 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Darling Ingredients will post $0.56 earnings per share for the current year.
In other news, EVP John Bullock sold 11,258 shares of the firm’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 completion of the sale, the executive vice president now 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 accessible through this link. 1.75% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC raised its stake in shares of 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 in the last quarter. 1st Global Advisors Inc. raised its stake in shares of 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 in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Darling Ingredients during the second quarter valued at about $164,000. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Darling Ingredients during the second quarter valued at about $178,000. Finally, American Financial Group Inc. purchased a new stake in shares of Darling Ingredients during the first quarter valued at about $159,000. 95.37% of the stock is owned by institutional investors and hedge funds.
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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