Roth Capital Reiterates $16.50 Price Target for Darling Ingredients Inc. (DAR)
Several other research firms also recently issued reports on DAR. Goldman Sachs Group Inc. upgraded Darling Ingredients from a neutral rating to a buy rating and boosted their price objective for the company from $16.00 to $18.00 in a report on Wednesday, June 29th. Zacks Investment Research upgraded Darling Ingredients from a sell rating to a hold rating in a report on Monday, August 29th. BMO Capital Markets reiterated an outperform rating and issued a $18.00 price objective on shares of Darling Ingredients in a report on Friday, September 16th. Canaccord Genuity set a $18.00 price objective on Darling Ingredients and gave the company a buy rating in a report on Thursday, September 15th. Finally, TheStreet upgraded Darling Ingredients from a hold rating to a buy rating in a report on Thursday, August 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $16.94.
Shares of Darling Ingredients (NYSE:DAR) opened at 13.08 on Monday. The firm has a 50-day moving average price of $14.15 and a 200-day moving average price of $14.23. Darling Ingredients has a 1-year low of $7.78 and a 1-year high of $15.93. The stock has a market capitalization of $2.15 billion, a PE ratio of 19.88 and a beta of 1.90.
Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, August 11th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. The company had revenue of $877.50 million for the quarter, compared to the consensus estimate of $875.85 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts forecast 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 the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $14.18, for a total value of $159,638.44. Following the completion of the sale, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at approximately $1,640,781.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.75% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Darling Ingredients during the fourth quarter worth about $19,499,000. Acadian Asset Management LLC boosted its stake in shares of Darling Ingredients by 3,783.2% in the first quarter. Acadian Asset Management LLC now owns 30,095 shares of the company’s stock worth $396,000 after buying an additional 29,320 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Darling Ingredients by 8.6% in the first quarter. Raymond James Trust N.A. now owns 27,101 shares of the company’s stock worth $357,000 after buying an additional 2,137 shares during the period. Aperio Group LLC boosted its stake in shares of Darling Ingredients by 0.9% in the first quarter. Aperio Group LLC now owns 77,169 shares of the company’s stock worth $1,016,000 after buying an additional 705 shares during the period. Finally, Nisa Investment Advisors L.L.C. purchased a new stake in shares of Darling Ingredients during the first quarter worth about $258,000. 95.37% of the stock is owned by hedge funds and other 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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