Zacks Research Upgrades Darling Ingredients (NYSE:DAR) to Strong-Buy

Darling Ingredients (NYSE:DAR) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on DAR. Stephens boosted their price objective on Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Jefferies Financial Group upped their price target on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Scotiabank increased their price target on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, TD Cowen raised their price objective on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Darling Ingredients has an average rating of “Moderate Buy” and an average price target of $69.00.

Darling Ingredients Trading Up 1.2%

DAR opened at $67.74 on Wednesday. The business has a fifty day moving average price of $59.69 and a 200 day moving average price of $58.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. Darling Ingredients has a 12 month low of $29.15 and a 12 month high of $69.98. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 18.26 and a beta of 1.02.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm posted $0.08 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Darling Ingredients will post 6.98 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Patrick Mcnutt sold 8,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the transaction, the executive vice president owned 35,777 shares of the company’s stock, valued at $2,400,278.93. This represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas James Kemphaus sold 1,591 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $63.05, for a total transaction of $100,312.55. Following the transaction, the executive vice president directly owned 35,087 shares in the company, valued at approximately $2,212,235.35. This trade represents a 4.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,591 shares of company stock worth $704,303 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Darling Ingredients

Several institutional investors and hedge funds have recently made changes to their positions in DAR. Danske Bank A S acquired a new stake in Darling Ingredients during the 3rd quarter valued at $25,000. Allworth Financial LP boosted its holdings in shares of Darling Ingredients by 227.2% during the fourth quarter. Allworth Financial LP now owns 733 shares of the company’s stock worth $26,000 after purchasing an additional 509 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings in Darling Ingredients by 69.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $26,000 after buying an additional 174 shares during the period. Litman Gregory Wealth Management LLC acquired a new position in shares of Darling Ingredients during the 4th quarter valued at about $29,000. Finally, Leonteq Securities AG purchased a new position in shares of Darling Ingredients during the 4th quarter worth about $35,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Company Profile

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.