Scotiabank Cuts Darling Ingredients (NYSE:DAR) Price Target to $57.00

Darling Ingredients (NYSE:DAR) had its target price cut by stock analysts at Scotiabank from $73.00 to $57.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 28.41% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Stephens cut their target price on Darling Ingredients from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Citigroup increased their price objective on shares of Darling Ingredients from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. BMO Capital Markets lowered their target price 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. Finally, Stifel Nicolaus cut their target price on shares of Darling Ingredients from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Darling Ingredients has an average rating of “Moderate Buy” and an average price target of $73.82.

Darling Ingredients Stock Performance

Shares of NYSE DAR opened at $44.39 on Thursday. The stock has a market cap of $7.09 billion, a PE ratio of 11.15 and a beta of 1.29. Darling Ingredients has a 1 year low of $38.97 and a 1 year high of $71.60. The firm has a fifty day moving average price of $43.80 and a 200-day moving average price of $45.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.86 and a quick ratio of 1.10.

Darling Ingredients (NYSE:DAR) last issued its earnings results on Tuesday, February 27th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.12). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.65 billion. Darling Ingredients had a return on equity of 15.05% and a net margin of 9.54%. Equities analysts anticipate that Darling Ingredients will post 3.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Darling Ingredients

In related news, Director Kurt Stoffel purchased 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average price of $41.62 per share, for a total transaction of $332,960.00. Following the completion of the transaction, the director now owns 10,571 shares in the company, valued at approximately $439,965.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Darling Ingredients

Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in Darling Ingredients by 38.9% in the second quarter. IFP Advisors Inc now owns 689 shares of the company’s stock worth $44,000 after purchasing an additional 193 shares during the period. Advisor Partners II LLC increased its stake in Darling Ingredients by 7.1% in the 4th quarter. Advisor Partners II LLC now owns 3,329 shares of the company’s stock worth $208,000 after buying an additional 220 shares during the period. Outlook Wealth Advisors LLC lifted its holdings in Darling Ingredients by 2.3% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 10,722 shares of the company’s stock valued at $560,000 after buying an additional 243 shares in the last quarter. CWM LLC boosted its position in Darling Ingredients by 14.7% in the 4th quarter. CWM LLC now owns 1,922 shares of the company’s stock valued at $96,000 after buying an additional 247 shares during the period. Finally, Xponance Inc. boosted its position in Darling Ingredients by 1.3% in the 3rd quarter. Xponance Inc. now owns 19,806 shares of the company’s stock valued at $1,034,000 after buying an additional 250 shares during the period. 94.44% of the stock is currently owned by institutional investors.

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.