Darling Ingredients Inc. (DAR) Shares Gap Down Following Weak Earnings
Darling Ingredients Inc. (NYSE:DAR)’s share price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $16.94, but opened at $16.43. Darling Ingredients shares last traded at $16.15, with a volume of 2,155,916 shares trading hands.
The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by $0.05. Darling Ingredients had a return on equity of 5.15% and a net margin of 3.06%. The firm had revenue of $896.30 million for the quarter, compared to analysts’ expectations of $890.91 million. During the same period in the prior year, the firm posted $0.19 earnings per share. Darling Ingredients’s revenue for the quarter was up 2.2% on a year-over-year basis.
DAR has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Darling Ingredients from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. BidaskClub cut shares of Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price target on shares of Darling Ingredients in a research note on Monday, May 8th. TheStreet raised shares of Darling Ingredients from a “c+” rating to a “b-” rating in a research note on Thursday, April 27th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $19.00 price target on shares of Darling Ingredients in a research note on Tuesday, May 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.67.
In related news, CFO Patrick C. Lynch acquired 18,820 shares of the stock in a transaction on Friday, May 19th. The stock was bought at an average cost of $15.93 per share, with a total value of $299,802.60. Following the transaction, the chief financial officer now directly owns 128,958 shares in the company, valued at $2,054,300.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patrick C. Lynch acquired 19,710 shares of the stock in a transaction on Wednesday, May 17th. The stock was bought at an average cost of $15.20 per share, with a total value of $299,592.00. Following the completion of the transaction, the chief financial officer now owns 110,138 shares in the company, valued at $1,674,097.60. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 56,867 shares of company stock valued at $899,938. 1.95% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in Darling Ingredients during the fourth quarter valued at about $123,000. Neuburgh Advisers LLC boosted its stake in Darling Ingredients by 4.9% in the first quarter. Neuburgh Advisers LLC now owns 9,350 shares of the company’s stock valued at $136,000 after buying an additional 440 shares during the period. Victory Capital Management Inc. bought a new stake in Darling Ingredients during the first quarter valued at about $146,000. Miles Capital Inc. boosted its stake in 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 buying an additional 28 shares during the period. Finally, World Asset Management Inc boosted its stake in Darling Ingredients by 0.9% in the first quarter. World Asset Management Inc now owns 10,474 shares of the company’s stock valued at $152,000 after buying an additional 94 shares during the period. 95.03% of the stock is owned by institutional investors.
The company has a market capitalization of $2.66 billion, a P/E ratio of 24.88 and a beta of 1.61. The stock’s 50 day moving average is $16.24 and its 200-day moving average is $14.87.
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Darling Ingredients Company Profile
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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