Norges Bank Makes New $74.04 Million Investment in Darling Ingredients Inc. $DAR

Norges Bank acquired a new stake in Darling Ingredients Inc. (NYSE:DAR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,951,528 shares of the company’s stock, valued at approximately $74,041,000.

Several other large investors have also made changes to their positions in 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 acquiring an additional 561 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new position in Darling Ingredients during the first quarter valued at $30,000. Parallel Advisors LLC lifted its holdings in Darling Ingredients by 45.0% during 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 in the last quarter. Hilltop National Bank acquired a new stake in shares of Darling Ingredients in the second quarter valued at about $106,000. Finally, GAMMA Investing LLC increased its stake in shares of Darling Ingredients by 43.4% during the second quarter. GAMMA Investing LLC now owns 2,959 shares of the company’s stock worth $112,000 after purchasing an additional 896 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DAR shares. Jefferies Financial Group raised their price target on shares of Darling Ingredients from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, October 24th. TD Cowen upgraded Darling Ingredients from a “hold” rating to a “buy” rating and raised their target price for the company from $34.00 to $45.00 in a research report on Tuesday. Zacks Research upgraded Darling Ingredients from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Cowen raised Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Bank of America began coverage on Darling Ingredients in a report on Wednesday, October 8th. They issued a “buy” rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Darling Ingredients has an average rating of “Moderate Buy” and an average price target of $45.33.

Darling Ingredients Price Performance

NYSE:DAR opened at $36.52 on Friday. Darling Ingredients Inc. has a one year low of $26.00 and a one year high of $42.15. The stock has a market cap of $5.78 billion, a PE ratio of 54.50, a P/E/G ratio of 2.74 and a beta of 1.29. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.87 and a current ratio of 1.49. The stock has a 50 day moving average price of $33.12 and a 200 day moving average price of $33.57.

Darling Ingredients (NYSE:DAR) last issued its earnings results on Thursday, October 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Darling Ingredients had a net margin of 1.84% and a return on equity of 2.39%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal year.

Darling Ingredients Company Profile

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.