Darling Ingredients Inc. (DAR) Shares Down 8.4%
Darling Ingredients Inc. (NYSE:DAR) was down 8.4% during trading on Friday . The stock traded as low as $15.98 and last traded at $16.38. Approximately 3,944,671 shares traded hands during mid-day trading, an increase of 228% from the average daily volume of 1,201,800 shares. The stock had previously closed at $17.89.
Several equities research analysts have commented on DAR shares. BidaskClub lowered shares of Darling Ingredients from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Robert W. Baird reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Darling Ingredients in a report on Wednesday, August 23rd. J P Morgan Chase & Co lowered shares of Darling Ingredients from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $18.00 in a report on Friday. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price target on shares of Darling Ingredients in a report on Monday, September 25th. Finally, Zacks Investment Research raised shares of Darling Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $18.40.
The firm has a 50-day moving average price of $17.53 and a 200 day moving average price of $16.12. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 32.18 and a beta of 1.57.
Darling Ingredients (NYSE:DAR) last issued its earnings results on Wednesday, August 9th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.05). The firm had revenue of $896.30 million during the quarter, compared to analysts’ expectations of $890.91 million. Darling Ingredients had a net margin of 2.39% and a return on equity of 3.99%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Analysts expect that Darling Ingredients Inc. will post $0.41 EPS for the current year.
Large investors have recently modified their holdings of the company. Clinton Group Inc. boosted its holdings in shares of Darling Ingredients by 148.7% in the first quarter. Clinton Group Inc. now owns 25,363 shares of the company’s stock valued at $368,000 after acquiring an additional 15,164 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Darling Ingredients by 237.2% in the first quarter. Russell Investments Group Ltd. now owns 32,109 shares of the company’s stock valued at $467,000 after acquiring an additional 22,587 shares in the last quarter. Miles Capital Inc. boosted its holdings in shares of Darling Ingredients by 0.3% in the first quarter. Miles Capital Inc. now owns 10,112 shares of the company’s stock valued at $147,000 after acquiring an additional 28 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Darling Ingredients by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 13,214 shares of the company’s stock valued at $208,000 after acquiring an additional 663 shares in the last quarter. Finally, World Asset Management Inc boosted its holdings in shares of Darling Ingredients by 2.3% in the second quarter. World Asset Management Inc now owns 10,711 shares of the company’s stock valued at $169,000 after acquiring an additional 237 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.
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About Darling Ingredients
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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