Darling Ingredients Inc. (NYSE:DAR) Stock Has Average Target Price of $72.40 According to Brokerages

Shares of Darling Ingredients Inc. (NYSE:DAR) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $72.80.

A number of equities analysts have weighed in on DAR shares. JPMorgan Chase & Co. upped their price objective on shares of Darling Ingredients from $82.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday. Barclays lifted their target price on Darling Ingredients from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Jefferies Financial Group upgraded Darling Ingredients to a “strong-buy” rating in a research note on Tuesday, September 29th. TD Cowen boosted their price target on Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Wall Street Zen raised Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th.

Darling Ingredients Price Performance

Shares of DAR stock opened at $62.38 on Thursday. The firm has a fifty day simple moving average of $63.83 and a 200-day simple moving average of $61.22. The company has a market capitalization of $9.84 billion, a PE ratio of 16.81 and a beta of 1.04. Darling Ingredients has a twelve month low of $30.39 and a twelve month high of $69.98. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm posted $0.08 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Darling Ingredients will post 7.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Darling Ingredients news, EVP Patrick McNutt sold 8,000 shares of Darling Ingredients stock in a transaction that occurred 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 sale, the executive vice president directly owned 35,777 shares in the company, valued at $2,400,278.93. The trade was a 18.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Joseph Manzi sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total value of $67,270.00. Following the completion of the transaction, the chief accounting officer directly owned 18,969 shares in the company, valued at approximately $1,276,044.63. The trade was a 5.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,591 shares of company stock valued at $704,303 over the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Trading of Darling Ingredients

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Darling Ingredients in the 2nd quarter worth about $851,450,000. Deutsche Bank AG acquired a new stake in shares of Darling Ingredients in the second quarter valued at approximately $168,348,000. Bank of America Corp DE acquired a new stake in shares of Darling Ingredients in the second quarter valued at approximately $129,371,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Darling Ingredients during the second quarter valued at approximately $118,952,000. Finally, Man Group plc bought a new stake in shares of Darling Ingredients during the second quarter valued at approximately $78,876,000. Institutional investors own 94.44% of the company’s stock.

About Darling Ingredients

Darling Ingredients Inc is a global developer and producer of sustainable ingredients created from animal by-products, food waste and used cooking oil. The company collects and transforms these materials into products used in animal feed, pet food, agriculture, food, fuel and other industrial applications.

Its products include rendered fats and proteins, specialty feed ingredients, fertilizer inputs, collagen and gelatin, and bioenergy feedstocks. Through its renewable diesel operations, including the Diamond Green Diesel joint venture, Darling also converts low-carbon waste fats and oils into renewable fuel.

Founded in 1882, Darling Ingredients has grown from a U.S.