Darling Ingredients (NYSE:DAR) Reaches New 52-Week High on Analyst Upgrade

Darling Ingredients Inc. (NYSE:DAR)’s share price reached a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $44.00 to $46.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Darling Ingredients traded as high as $42.87 and last traded at $41.8050, with a volume of 883 shares. The stock had previously closed at $41.62.

DAR has been the topic of a number of other research reports. Piper Sandler dropped their price target on shares of Darling Ingredients from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. TD Cowen raised shares of Darling Ingredients from a “hold” rating to a “buy” rating in a research note on Tuesday, December 2nd. Zacks Research lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. UBS Group set a $50.00 price target on Darling Ingredients in a report on Monday, November 3rd. Finally, Jefferies Financial Group lifted their price objective on Darling Ingredients from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.63.

Institutional Investors Weigh In On Darling Ingredients

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Darling Ingredients by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 7,776,549 shares of the company’s stock worth $240,058,000 after purchasing an additional 22,055 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Darling Ingredients by 6.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,122,104 shares of the company’s stock valued at $158,119,000 after purchasing an additional 287,665 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Darling Ingredients by 1.0% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,693,135 shares of the company’s stock worth $140,118,000 after buying an additional 35,309 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in shares of Darling Ingredients by 66.0% in the second quarter. Frontier Capital Management Co. LLC now owns 3,323,470 shares of the company’s stock valued at $126,092,000 after buying an additional 1,320,817 shares in the last quarter. Finally, Davis Selected Advisers lifted its stake in shares of Darling Ingredients by 0.4% in the third quarter. Davis Selected Advisers now owns 2,453,940 shares of the company’s stock valued at $75,753,000 after buying an additional 10,370 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Price Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.49 and a quick ratio of 0.87. The business’s fifty day moving average price is $36.63 and its 200-day moving average price is $34.16. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 63.12, a PEG ratio of 0.50 and a beta of 1.25.

Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, October 23rd. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.50 billion. Darling Ingredients had a return on equity of 2.39% and a net margin of 1.84%.The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, research analysts forecast that Darling Ingredients Inc. will post 2.81 EPS for the current year.

About Darling Ingredients

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.