Darling Ingredients (NYSE:DAR) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Darling Ingredients Inc. (NYSE:DAR)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $60.68 and traded as high as $61.93. Darling Ingredients shares last traded at $61.2830, with a volume of 2,107,404 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group raised their target price on shares of Darling Ingredients from $78.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays boosted their price target on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. TD Cowen increased their price objective on Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings upgraded Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.91.

Darling Ingredients Trading Down 0.7%

The company has a market capitalization of $9.67 billion, a PE ratio of 16.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.56 and a quick ratio of 1.03. The company’s fifty day moving average is $63.75 and its 200-day moving average is $60.68.

Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $1.01. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. Darling Ingredients had a return on equity of 12.98% and a net margin of 9.13%.Darling Ingredients’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. On average, analysts anticipate that Darling Ingredients Inc. will post 6.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Patrick McNutt sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the sale, the executive vice president owned 35,777 shares of the company’s stock, valued at $2,400,278.93. This trade represents a 18.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Kemphaus sold 1,591 shares of Darling Ingredients stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the completion of the transaction, the executive vice president 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 quarter, insiders sold 10,591 shares of company stock valued at $704,303. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Darling Ingredients

A number of institutional investors have recently modified their holdings of DAR. SJS Investment Consulting Inc. raised its stake in shares of Darling Ingredients by 69.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 174 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its position in Darling Ingredients by 2.6% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 7,625 shares of the company’s stock valued at $472,000 after acquiring an additional 196 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Darling Ingredients by 2.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 7,776 shares of the company’s stock valued at $481,000 after acquiring an additional 220 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Darling Ingredients by 3.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company’s stock valued at $277,000 after acquiring an additional 267 shares in the last quarter. Finally, HB Wealth Management LLC grew its holdings in Darling Ingredients by 3.3% in the second quarter. HB Wealth Management LLC now owns 8,487 shares of the company’s stock worth $464,000 after purchasing an additional 269 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Company Profile

Darling Ingredients Inc is a global developer and producer of sustainable ingredients derived from animal by-products, used cooking oil, food waste and other organic materials. The company collects and processes these materials into products used in animal feed, pet food, agriculture, food, fuel and industrial applications.

Its product portfolio includes protein meals, animal fats, feed-grade ingredients, fertilizer nutrients, gelatin and collagen products, and specialty ingredients. Darling also produces renewable diesel and other low-carbon fuels through its Diamond Green Diesel joint venture with Valero Energy, which converts waste fats, oils and greases into renewable fuels.

Founded in 1882, Darling Ingredients serves customers through operations spanning North America, South America, Europe, Asia and Australia.