Kestra Private Wealth Services LLC Buys New Position in Darling Ingredients Inc. $DAR

Kestra Private Wealth Services LLC bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,833 shares of the company’s stock, valued at approximately $718,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krilogy Financial LLC grew its stake in shares of Darling Ingredients by 3.3% in the third quarter. Krilogy Financial LLC now owns 6,661 shares of the company’s stock worth $407,000 after acquiring an additional 213 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Darling Ingredients by 3.3% in the second quarter. HB Wealth Management LLC now owns 8,487 shares of the company’s stock valued at $464,000 after acquiring an additional 269 shares in the last quarter. Basecamp Wealth Advisors LLC boosted its holdings in Darling Ingredients by 35.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company’s stock valued at $64,000 after purchasing an additional 270 shares during the period. Waverly Advisors LLC boosted its holdings in Darling Ingredients by 5.8% in the second quarter. Waverly Advisors LLC now owns 5,769 shares of the company’s stock valued at $315,000 after purchasing an additional 317 shares during the period. Finally, Everhart Financial Group Inc. grew its stake in Darling Ingredients by 4.9% during the 3rd quarter. Everhart Financial Group Inc. now owns 7,091 shares of the company’s stock worth $430,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DAR. Jefferies Financial Group upgraded Darling Ingredients to a “strong-buy” rating in a report on Tuesday, September 29th. Barclays lifted their price objective on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. UBS Group boosted their price objective on Darling Ingredients from $78.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. upped their target price on shares of Darling Ingredients from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Finally, Wall Street Zen cut shares of Darling Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Darling Ingredients currently has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Darling Ingredients Stock Performance

Shares of DAR stock opened at $50.22 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average price of $61.04 and a 200 day moving average price of $58.50. The company has a market cap of $7.92 billion, a P/E ratio of 9.55 and a beta of 1.00. Darling Ingredients Inc. has a 12 month low of $31.65 and a 12 month high of $69.98.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.03). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.79 billion. Darling Ingredients had a net margin of 12.48% and a return on equity of 17.76%. During the same quarter in the prior year, the business earned $0.12 earnings per share. Sell-side analysts predict that Darling Ingredients Inc. will post 6.85 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Patrick McNutt sold 8,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $67.09, for a total value of $536,720.00. Following the transaction, the executive vice president owned 35,777 shares in the company, valued at approximately $2,400,278.93. This represents a 18.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Kemphaus sold 1,591 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $63.05, for a total value of $100,312.55. Following the sale, the executive vice president directly owned 35,087 shares in the company, valued at $2,212,235.35. This trade represents a 4.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 10,591 shares of company stock worth $704,303. 1.90% of the stock is currently owned by insiders.

Darling Ingredients Profile

Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.

The company’s businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.