Envestnet Asset Management Inc. Grows Stake in Darling Ingredients Inc. (NYSE:DAR)

Envestnet Asset Management Inc. increased its stake in Darling Ingredients Inc. (NYSE:DAR) by 8.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 562,130 shares of the company’s stock after acquiring an additional 44,281 shares during the period. Envestnet Asset Management Inc. owned about 0.36% of Darling Ingredients worth $17,561,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DAR. Hexagon Capital Partners LLC raised its stake in Darling Ingredients by 33.3% in the first quarter. Hexagon Capital Partners LLC now owns 2,000 shares of the company’s stock worth $62,000 after buying an additional 500 shares in the last quarter. Lightrock Netherlands B.V. raised its position in shares of Darling Ingredients by 37.0% during the 1st quarter. Lightrock Netherlands B.V. now owns 336,807 shares of the company’s stock valued at $10,539,000 after purchasing an additional 90,965 shares during the period. Teacher Retirement System of Texas purchased a new position in Darling Ingredients during the first quarter valued at $726,000. First Horizon Advisors Inc. increased its holdings in shares of Darling Ingredients by 23.8% in the 1st quarter. First Horizon Advisors Inc. now owns 3,735 shares of the company’s stock worth $117,000 after buying an additional 719 shares during the last quarter. Finally, Unified Investment Management increased its holdings in shares of Darling Ingredients by 13.7% in the 1st quarter. Unified Investment Management now owns 25,386 shares of the company’s stock worth $793,000 after buying an additional 3,067 shares during the last quarter. 94.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of Darling Ingredients from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Robert W. Baird lowered their price target on shares of Darling Ingredients from $41.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. TD Cowen reduced their target price on shares of Darling Ingredients from $37.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, April 25th. Jefferies Financial Group lifted their target price on shares of Darling Ingredients from $45.00 to $46.00 and gave the company a “buy” rating in a report on Monday, July 7th. Finally, Wall Street Zen upgraded shares of Darling Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.14.

Darling Ingredients Trading Up 0.0%

Shares of NYSE DAR opened at $35.62 on Friday. Darling Ingredients Inc. has a 52 week low of $26.00 and a 52 week high of $43.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.40. The business has a 50 day simple moving average of $35.24 and a 200 day simple moving average of $34.24. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 33.29 and a beta of 1.23.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, April 24th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.36). The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.45 billion. Darling Ingredients had a return on equity of 3.78% and a net margin of 3.02%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, research analysts predict that Darling Ingredients Inc. will post 2.81 earnings per share for the current fiscal year.

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.