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

Zacks Research upgraded shares of Darling Ingredients (NYSE:DAR) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Scotiabank lifted their price objective on shares of Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group upped their target price on Darling Ingredients from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Stephens raised their target price on Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Weiss Ratings lowered Darling Ingredients from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, UBS Group boosted their price target on Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Darling Ingredients presently has an average rating of “Moderate Buy” and an average price target of $67.45.

Darling Ingredients Trading Down 0.8%

DAR opened at $52.79 on Monday. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 38.25 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.82. Darling Ingredients has a twelve month low of $29.15 and a twelve month high of $66.02. The company has a 50-day simple moving average of $59.56 and a 200 day simple moving average of $51.58.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, April 30th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm earned ($0.16) EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts predict that Darling Ingredients will post 4.68 EPS for the current fiscal year.

Insider Transactions at Darling Ingredients

In related news, CAO Joseph Manzi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.89, for a total transaction of $191,670.00. Following the completion of the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at $1,275,819.41. This represents a 13.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Darling Ingredients

A number of hedge funds have recently added to or reduced their stakes in DAR. Norges Bank bought a new position in shares of Darling Ingredients in the 4th quarter valued at $94,211,000. No Street GP LP bought a new stake in Darling Ingredients during the 3rd quarter worth $69,458,000. Assenagon Asset Management S.A. grew its position in Darling Ingredients by 72.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,091,960 shares of the company’s stock worth $129,388,000 after acquiring an additional 882,185 shares during the last quarter. Rubric Capital Management LP bought a new stake in Darling Ingredients during the 4th quarter worth $24,510,000. Finally, Amundi increased its holdings in Darling Ingredients by 177.7% in the 4th quarter. Amundi now owns 864,400 shares of the company’s stock worth $31,119,000 after purchasing an additional 553,081 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

About Darling Ingredients

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.