Darling Ingredients (NYSE:DAR) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Darling Ingredients (NYSE:DAR) posted its quarterly earnings data on Wednesday. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03), FiscalAI reports. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.79 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%.

Darling Ingredients Trading Down 0.9%

NYSE DAR traded down $0.49 during mid-day trading on Wednesday, reaching $55.18. 2,852,480 shares of the stock were exchanged, compared to its average volume of 2,577,501. The stock has a market cap of $8.71 billion, a P/E ratio of 14.87 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. Darling Ingredients has a one year low of $31.48 and a one year high of $69.98. The stock has a 50 day simple moving average of $62.85 and a 200-day simple moving average of $57.95.

Analyst Ratings Changes

DAR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Darling Ingredients from $82.00 to $83.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Jefferies Financial Group upgraded shares of Darling Ingredients to a “strong-buy” rating in a report on Tuesday, September 29th. UBS Group raised their target price on Darling Ingredients from $78.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Wall Street Zen raised Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Finally, Barclays upped their price target on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Insider Activity

In other Darling Ingredients news, EVP Patrick McNutt sold 8,000 shares of Darling Ingredients stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $67.09, for a total value of $536,720.00. Following the completion of the sale, the executive vice president directly 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles L. Adair purchased 1,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $60.97 per share, for a total transaction of $60,970.00. Following the completion of the acquisition, the director directly owned 51,690 shares in the company, valued at approximately $3,151,539.30. This represents a 1.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 10,591 shares of company stock worth $704,303. 1.90% of the stock is owned by insiders.

About Darling Ingredients

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.