Darling Ingredients Inc. (DAR) Sets New 52-Week High at $17.75
Darling Ingredients Inc. (NYSE:DAR)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $17.75 and last traded at $17.71, with a volume of 1,080,757 shares trading hands. The stock had previously closed at $17.40.
Several equities analysts recently commented on the stock. BidaskClub cut shares of Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Darling Ingredients from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. Robert W. Baird restated an “outperform” rating and issued a $20.00 price objective on shares of Darling Ingredients in a report on Wednesday, August 23rd. J P Morgan Chase & Co set a $19.00 price objective on shares of Darling Ingredients and gave the stock a “buy” rating in a report on Monday, August 14th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $18.00 price target on shares of Darling Ingredients in a report on Monday, May 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.17.
The stock’s 50-day moving average is $16.65 and its 200-day moving average is $15.41. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 34.73 and a beta of 1.59.
Darling Ingredients (NYSE:DAR) last issued its earnings results on Wednesday, August 9th. The company reported $0.05 EPS for the quarter, missing the Zacks’ 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%. Darling Ingredients’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. On average, equities analysts forecast that Darling Ingredients Inc. will post $0.44 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of DAR. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Darling Ingredients during the second quarter worth approximately $244,000. WINTON GROUP Ltd raised its stake in shares of Darling Ingredients by 133.9% in the second quarter. WINTON GROUP Ltd now owns 356,448 shares of the company’s stock worth $5,610,000 after buying an additional 204,042 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Darling Ingredients by 10.4% in the second quarter. Public Employees Retirement System of Ohio now owns 14,628 shares of the company’s stock worth $230,000 after buying an additional 1,376 shares in the last quarter. Raffles Associates LP purchased a new stake in shares of Darling Ingredients during the second quarter worth approximately $1,126,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Darling Ingredients during the second quarter worth approximately $561,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.
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.