Darling Ingredients (NYSE:DAR) Price Target Cut to $70.00 by Analysts at TD Cowen

Darling Ingredients (NYSE:DAR) had its price target cut by TD Cowen from $76.00 to $70.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 31.34% from the stock’s previous close.

A number of other equities analysts also recently issued reports on DAR. Barclays assumed coverage on Darling Ingredients in a research report on Monday. They set an “equal weight” rating and a $58.00 price target on the stock. Stephens boosted 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. JPMorgan Chase & Co. upped their target price on Darling Ingredients from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded Darling Ingredients from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Scotiabank increased 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 report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.45.

Darling Ingredients Stock Down 0.7%

NYSE:DAR opened at $53.30 on Tuesday. The company’s 50-day simple moving average is $59.73 and its 200-day simple moving average is $51.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.58. Darling Ingredients has a fifty-two week low of $29.15 and a fifty-two week high of $66.02. The stock has a market capitalization of $8.47 billion, a P/E ratio of 38.62 and a beta of 1.02.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.56 by $0.27. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. Darling Ingredients’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) EPS. On average, equities analysts anticipate that Darling Ingredients will post 4.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Darling Ingredients 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Darling Ingredients

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