Darling Ingredients Inc. (DAR) Receives Outperform Rating from BMO Capital Markets
Darling Ingredients Inc. (NYSE:DAR)‘s stock had its “outperform” rating restated by equities researchers at BMO Capital Markets in a research note issued on Friday. They presently have a $18.00 price target on the stock. BMO Capital Markets’ target price would suggest a potential upside of 35.34% from the stock’s current price.
DAR has been the topic of a number of other research reports. Zacks Investment Research lowered Darling Ingredients from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. upgraded Darling Ingredients from a “neutral” rating to an “overweight” rating and increased their target price for the company from $14.00 to $18.00 in a research report on Thursday, May 26th. Canaccord Genuity reissued a “buy” rating and issued a $18.00 price objective on shares of Darling Ingredients in a research note on Wednesday, June 8th. TheStreet raised Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Thursday, August 11th. Finally, Goldman Sachs Group Inc. raised Darling Ingredients from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.00 to $18.00 in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $16.63.
Shares of Darling Ingredients (NYSE:DAR) traded down 2.18% during midday trading on Friday, reaching $13.01. 829,410 shares of the company traded hands. The stock has a 50 day moving average price of $14.46 and a 200 day moving average price of $14.14. Darling Ingredients has a 1-year low of $7.78 and a 1-year high of $15.93. The firm has a market capitalization of $2.14 billion, a PE ratio of 19.77 and a beta of 1.90.
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Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Darling Ingredients had a return on equity of 5.90% and a net margin of 3.27%. The firm had revenue of $877.50 million for the quarter, compared to analyst estimates of $875.85 million. During the same quarter last year, the firm posted $0.02 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts expect that Darling Ingredients will post $0.56 earnings per share for the current fiscal year.
In other Darling Ingredients news, EVP John Bullock sold 11,258 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $14.18, for a total value of $159,638.44. Following the completion of the sale, the executive vice president now directly owns 115,711 shares of the company’s stock, valued at approximately $1,640,781.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.75% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of DAR. Acrospire Investment Management LLC increased its stake in shares of Darling Ingredients by 9.5% in the second quarter. Acrospire Investment Management LLC now owns 6,900 shares of the company’s stock worth $103,000 after buying an additional 600 shares during the last quarter. American Financial Group Inc. acquired a new stake in shares of Darling Ingredients during the first quarter worth about $159,000. 1st Global Advisors Inc. increased its stake in shares of Darling Ingredients by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 10,717 shares of the company’s stock worth $160,000 after buying an additional 57 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Darling Ingredients during the second quarter worth about $164,000. Finally, Babson Capital Management LLC acquired a new stake in shares of Darling Ingredients during the first quarter worth about $166,000. 95.37% of the stock is owned by hedge funds and other institutional investors.
Darling Ingredients Company Profile
Darling Ingredients Inc, formerly Darling International Inc, is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. The Company offers a range of ingredients and specialty solutions for customers in the food, pet food, pharmaceutical, feed, fuel, bioenergy and fertilizer industries.
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