Citigroup Inc. Grows Position in Darling Ingredients Inc. (NYSE:DAR)

Citigroup Inc. lifted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 2,842.2% in the 3rd quarter, Holdings Channel reports. The firm owned 465,985 shares of the company’s stock after acquiring an additional 450,147 shares during the period. Citigroup Inc.’s holdings in Darling Ingredients were worth $17,316,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Tidal Investments LLC bought a new stake in Darling Ingredients during the first quarter worth about $1,462,000. Swedbank AB bought a new stake in Darling Ingredients in the 1st quarter worth approximately $14,676,000. Natixis Advisors LLC boosted its stake in Darling Ingredients by 23.2% in the third quarter. Natixis Advisors LLC now owns 107,913 shares of the company’s stock worth $4,010,000 after buying an additional 20,323 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Darling Ingredients by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock worth $50,210,000 after acquiring an additional 15,414 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Darling Ingredients by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 1,093,516 shares of the company’s stock worth $40,635,000 after acquiring an additional 42,921 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Trading Down 1.3 %

DAR opened at $40.56 on Thursday. Darling Ingredients Inc. has a one year low of $32.67 and a one year high of $51.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.41 and a quick ratio of 0.83. The business has a 50 day simple moving average of $38.65 and a two-hundred day simple moving average of $38.44. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 25.39 and a beta of 1.23.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, October 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. Darling Ingredients’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. Analysts predict that Darling Ingredients Inc. will post 1.88 EPS for the current year.

Analyst Ratings Changes

DAR has been the topic of several recent research reports. TD Cowen reduced their target price on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, September 13th. JPMorgan Chase & Co. raised their price objective on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler lowered their target price on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Jefferies Financial Group raised their price target on Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.44.

About Darling Ingredients

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.