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

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

A number of other research firms also recently issued reports on DAR. UBS Group boosted their target price on shares of Darling Ingredients from $58.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Wall Street Zen downgraded Darling Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Barclays started coverage on Darling Ingredients in a research note on Monday. They set an “equal weight” rating and a $58.00 price objective for the company. Jefferies Financial Group boosted their price objective on Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Stephens upped their target price on Darling Ingredients from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Darling Ingredients currently has an average rating of “Moderate Buy” and a consensus price target of $67.45.

Darling Ingredients Stock Performance

Shares of NYSE DAR opened at $52.79 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. Darling Ingredients has a 12 month low of $29.15 and a 12 month high of $66.02. The company has a 50 day simple moving average of $59.56 and a two-hundred day simple moving average of $51.58. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 38.25 and a beta of 1.02.

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

Insider Buying and Selling at Darling Ingredients

In related news, CAO Joseph Manzi sold 3,000 shares of Darling Ingredients stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $63.89, for a total value of $191,670.00. Following the completion of the transaction, the chief accounting officer owned 19,969 shares in the company, valued at $1,275,819.41. The trade was a 13.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds have recently bought and sold shares of DAR. Norges Bank purchased a new stake in shares of Darling Ingredients in the fourth quarter valued at approximately $94,211,000. No Street GP LP purchased a new position in shares of Darling Ingredients during the 3rd quarter valued at approximately $69,458,000. Assenagon Asset Management S.A. lifted its position in shares of 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 valued at $129,388,000 after buying an additional 882,185 shares in the last quarter. Rubric Capital Management LP acquired a new stake in Darling Ingredients in the 4th quarter valued at $24,510,000. Finally, Amundi grew its stake in Darling Ingredients by 177.7% in the 4th quarter. Amundi now owns 864,400 shares of the company’s stock valued at $31,119,000 after acquiring an additional 553,081 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

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.