JPMorgan Chase & Co. Cuts Darling Ingredients (NYSE:DAR) Price Target to $62.00

Darling Ingredients (NYSE:DAR) had its price objective decreased by JPMorgan Chase & Co. from $66.00 to $62.00 in a research note issued to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup raised their target price on shares of Darling Ingredients from $46.00 to $48.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Stifel Nicolaus cut their price target on shares of Darling Ingredients from $95.00 to $90.00 and set a buy rating on the stock in a report on Monday, April 8th. Scotiabank cut their price target on shares of Darling Ingredients from $73.00 to $57.00 and set a sector outperform rating on the stock in a report on Thursday, April 11th. Stephens cut their price target on shares of Darling Ingredients from $55.00 to $50.00 and set an equal weight rating on the stock in a report on Wednesday, January 24th. Finally, BMO Capital Markets cut their price target on shares of Darling Ingredients from $60.00 to $57.00 and set an outperform rating on the stock in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $72.55.

Darling Ingredients Price Performance

DAR opened at $42.62 on Wednesday. The company’s 50 day simple moving average is $43.85 and its 200 day simple moving average is $44.69. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.10 and a current ratio of 1.86. Darling Ingredients has a 1 year low of $38.97 and a 1 year high of $71.60. The stock has a market capitalization of $6.81 billion, a PE ratio of 10.71 and a beta of 1.29.

Darling Ingredients (NYSE:DAR) last released its earnings results on Tuesday, February 27th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.12). Darling Ingredients had a return on equity of 15.05% and a net margin of 9.54%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.65 billion. As a group, sell-side analysts expect that Darling Ingredients will post 3.41 EPS for the current year.

Insider Activity

In other news, Director Kurt Stoffel acquired 8,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $41.62 per share, for a total transaction of $332,960.00. Following the completion of the purchase, the director now directly owns 10,571 shares of the company’s stock, valued at approximately $439,965.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.62% of the company’s stock.

Institutional Trading of Darling Ingredients

A number of hedge funds and other institutional investors have recently made changes to their positions in DAR. HighTower Advisors LLC boosted its holdings in Darling Ingredients by 97.9% in the first quarter. HighTower Advisors LLC now owns 14,145 shares of the company’s stock worth $1,133,000 after purchasing an additional 6,999 shares during the period. Bank of Montreal Can increased its stake in Darling Ingredients by 20.4% during the first quarter. Bank of Montreal Can now owns 21,054 shares of the company’s stock valued at $1,697,000 after purchasing an additional 3,563 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Darling Ingredients during the first quarter valued at $141,000. Panagora Asset Management Inc. bought a new stake in Darling Ingredients during the first quarter valued at $447,000. Finally, Great West Life Assurance Co. Can increased its stake in Darling Ingredients by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 89,124 shares of the company’s stock valued at $7,366,000 after purchasing an additional 6,770 shares during the last quarter. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Company Profile

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.