Darling Ingredients (NYSE:DAR) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of Darling Ingredients (NYSE:DAR) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Robert W. Baird raised their price target on shares of Darling Ingredients from $64.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Scotiabank boosted their price objective 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. Stephens increased their target price on shares of Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Weiss Ratings raised shares of Darling Ingredients from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.82.

Darling Ingredients Trading Up 1.3%

DAR opened at $64.77 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 46.93 and a beta of 1.04. Darling Ingredients has a 12 month low of $29.15 and a 12 month high of $66.02. The stock has a fifty day moving average price of $58.45 and a 200-day moving average price of $55.00.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.27. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) earnings per share. As a group, equities research analysts anticipate that Darling Ingredients will post 4.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Joseph Manzi sold 3,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the sale, the chief accounting officer owned 19,969 shares in the company, valued at approximately $1,275,819.41. The trade was a 13.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Darling Ingredients

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in Darling Ingredients by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company’s stock valued at $20,119,000 after purchasing an additional 93,408 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Darling Ingredients by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company’s stock worth $18,768,000 after buying an additional 58,925 shares during the period. Focus Partners Wealth purchased a new stake in shares of Darling Ingredients during the first quarter valued at $205,000. M&T Bank Corp grew its holdings in shares of Darling Ingredients by 11.2% during the second quarter. M&T Bank Corp now owns 8,384 shares of the company’s stock valued at $318,000 after buying an additional 847 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Darling Ingredients by 5.0% in the 2nd quarter. Invesco Ltd. now owns 677,528 shares of the company’s stock worth $25,705,000 after acquiring an additional 32,553 shares during the last quarter. 94.44% of the stock is 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.