Darling Ingredients Inc. (DAR) Raised to “Hold” at Zacks Investment Research
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 topic of a number of other reports. Canaccord Genuity set a $18.00 price objective on shares of Darling Ingredients and gave the stock a buy rating in a research report on Thursday, September 15th. JPMorgan Chase & Co. raised shares of Darling Ingredients from a neutral rating to an overweight rating and increased their price objective for the stock from $14.00 to $18.00 in a research report on Thursday, May 26th. BMO Capital Markets reissued an outperform rating and issued a $18.00 price objective on shares of Darling Ingredients in a research report on Friday, September 16th. TheStreet raised shares of Darling Ingredients from a hold rating to a buy rating in a research report on Thursday, August 11th. Finally, Roth Capital set a $16.50 target price on shares of Darling Ingredients and gave the stock a buy rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Darling Ingredients currently has a consensus rating of Buy and a consensus price target of $16.94.
Darling Ingredients (NYSE:DAR) opened at 13.08 on Monday. The company has a market capitalization of $2.15 billion, a PE ratio of 19.88 and a beta of 1.90. Darling Ingredients has a 52-week low of $7.78 and a 52-week high of $15.93. The company has a 50-day moving average price of $14.15 and a 200 day moving average price of $14.23.
Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. Darling Ingredients had a net margin of 3.27% and a return on equity of 5.90%. The company had revenue of $877.50 million for the quarter, compared to analyst estimates of $875.85 million. During the same period in the prior year, the company posted $0.02 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate 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 Darling Ingredients stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $14.18, for a total transaction of $159,638.44. Following the transaction, 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 filing with the SEC, which is accessible through this link. Corporate insiders own 1.75% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Nomura Holdings Inc. raised its position in shares of Darling Ingredients by 62.2% in the second quarter. Nomura Holdings Inc. now owns 25,200 shares of the company’s stock valued at $377,000 after buying an additional 9,663 shares during the last quarter. Mason Street Advisors LLC acquired a new position in shares of Darling Ingredients during the second quarter valued at about $479,000. Public Employees Retirement System of Ohio raised its position in shares of Darling Ingredients by 9.7% in the second quarter. Public Employees Retirement System of Ohio now owns 12,604 shares of the company’s stock valued at $188,000 after buying an additional 1,111 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Darling Ingredients by 3.0% in the second quarter. Sterling Capital Management LLC now owns 80,319 shares of the company’s stock valued at $1,197,000 after buying an additional 2,376 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Darling Ingredients by 9.3% in the second quarter. Amalgamated Bank now owns 19,392 shares of the company’s stock valued at $285,000 after buying an additional 1,654 shares during the period. 95.37% of the stock is currently owned by institutional investors.
About Darling Ingredients
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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