Range Financial Group LLC Makes New Investment in Darling Ingredients Inc. $DAR

Range Financial Group LLC bought a new stake in Darling Ingredients Inc. (NYSE:DAR) in the 1st quarter, HoldingsChannel reports. The firm bought 20,825 shares of the company’s stock, valued at approximately $1,288,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Danske Bank A S purchased a new position in shares of Darling Ingredients during the 3rd quarter worth $25,000. Allworth Financial LP grew its holdings in shares of Darling Ingredients by 227.2% in the fourth quarter. Allworth Financial LP now owns 733 shares of the company’s stock valued at $26,000 after purchasing an additional 509 shares during the period. SJS Investment Consulting Inc. increased its position in Darling Ingredients by 69.9% during the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 174 shares during the last quarter. Litman Gregory Wealth Management LLC acquired a new stake in Darling Ingredients during the fourth quarter worth about $29,000. Finally, Leonteq Securities AG purchased a new position in Darling Ingredients during the fourth quarter worth about $35,000. 94.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Joseph Manzi sold 3,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the completion of the transaction, the chief accounting officer directly owned 19,969 shares in the company, valued at $1,275,819.41. This trade represents a 13.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

DAR has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Darling Ingredients from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. UBS Group raised their price target on shares of Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Jefferies Financial Group lifted their price target on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Zacks Research upgraded Darling Ingredients from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 22nd. Finally, Scotiabank raised their target price on Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Darling Ingredients currently has an average rating of “Moderate Buy” and a consensus price target of $67.82.

Darling Ingredients Price Performance

Darling Ingredients stock opened at $60.15 on Friday. The company’s 50 day simple moving average is $58.62 and its 200-day simple moving average is $53.30. 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 Inc. has a 1 year low of $29.15 and a 1 year high of $66.02. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 43.58 and a beta of 1.04.

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

Darling Ingredients Profile

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.