CenterBook Partners LP Has $7.41 Million Position in Darling Ingredients Inc. $DAR

CenterBook Partners LP cut its stake in Darling Ingredients Inc. (NYSE:DAR) by 19.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,342 shares of the company’s stock after selling 47,617 shares during the quarter. CenterBook Partners LP owned approximately 0.12% of Darling Ingredients worth $7,411,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DAR. Hantz Financial Services Inc. grew its stake in Darling Ingredients by 609.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 653 shares of the company’s stock valued at $25,000 after buying an additional 561 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Darling Ingredients during the first quarter worth approximately $30,000. Parallel Advisors LLC grew its position in shares of Darling Ingredients by 45.0% in the second quarter. Parallel Advisors LLC now owns 2,172 shares of the company’s stock valued at $82,000 after purchasing an additional 674 shares during the last quarter. Hilltop National Bank bought a new position in shares of Darling Ingredients during the second quarter worth approximately $106,000. Finally, GAMMA Investing LLC lifted its holdings in Darling Ingredients by 43.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,959 shares of the company’s stock worth $112,000 after purchasing an additional 896 shares during the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DAR. Piper Sandler lowered their price objective on Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Robert W. Baird reaffirmed a “neutral” rating and set a $36.00 price target (down from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. JPMorgan Chase & Co. initiated coverage on shares of Darling Ingredients in a research note on Wednesday, August 20th. They issued an “overweight” rating and a $43.00 price objective for the company. Baird R W lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Finally, UBS Group set a $50.00 price target on shares of Darling Ingredients in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.11.

Darling Ingredients Trading Up 3.7%

Shares of Darling Ingredients stock opened at $33.33 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.84. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $42.28. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 49.74, a PEG ratio of 2.35 and a beta of 1.30. The firm’s 50-day moving average price is $32.36 and its two-hundred day moving average price is $33.48.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.50 billion. Darling Ingredients had a return on equity of 2.41% and a net margin of 1.84%.The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $0.11 EPS. On average, analysts forecast 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.