Darling Ingredients (NYSE:DAR) Shares Gap Up After Better-Than-Expected Earnings

Darling Ingredients Inc. (NYSE:DAR)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $36.05, but opened at $38.25. Darling Ingredients shares last traded at $38.96, with a volume of 135,152 shares changing hands.

The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DAR. Citigroup lowered their price target on Darling Ingredients from $46.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group upped their price objective on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler cut their target price on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Stephens reaffirmed an “overweight” rating and issued a $52.00 target price on shares of Darling Ingredients in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.22.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds have recently made changes to their positions in DAR. Heck Capital Advisors LLC bought a new position in Darling Ingredients during the 4th quarter worth approximately $25,000. GAMMA Investing LLC increased its position in shares of Darling Ingredients by 173.9% during the third quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock worth $31,000 after buying an additional 527 shares during the period. Signaturefd LLC raised its stake in Darling Ingredients by 75.0% during the third quarter. Signaturefd LLC now owns 901 shares of the company’s stock worth $33,000 after buying an additional 386 shares during the last quarter. Blue Trust Inc. lifted its holdings in Darling Ingredients by 38.0% in the third quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock valued at $38,000 after buying an additional 288 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its position in Darling Ingredients by 157.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,180 shares of the company’s stock valued at $40,000 after acquiring an additional 721 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.41. The business has a 50 day moving average price of $35.56 and a 200-day moving average price of $37.45. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 24.02 and a beta of 1.21.

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.