Fisher Asset Management LLC Raises Stock Position in Darling Ingredients Inc. $DAR

Fisher Asset Management LLC boosted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 94.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,442 shares of the company’s stock after purchasing an additional 36,593 shares during the period. Fisher Asset Management LLC’s holdings in Darling Ingredients were worth $2,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC grew its position in Darling Ingredients by 1.0% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,693,135 shares of the company’s stock worth $140,118,000 after purchasing an additional 35,309 shares during the period. Frontier Capital Management Co. LLC boosted 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 worth $126,092,000 after buying an additional 1,320,817 shares during the last quarter. Norges Bank acquired a new stake in Darling Ingredients during the second quarter worth about $74,041,000. Marshall Wace LLP grew its holdings in Darling Ingredients by 973.3% during the second quarter. Marshall Wace LLP now owns 1,502,084 shares of the company’s stock worth $56,989,000 after acquiring an additional 1,362,137 shares during the period. Finally, DNB Asset Management AS raised its position in Darling Ingredients by 18.4% during the third quarter. DNB Asset Management AS now owns 1,158,758 shares of the company’s stock valued at $35,771,000 after acquiring an additional 180,038 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $52.98 on Friday. The business’s 50 day moving average price is $45.45 and its 200 day moving average price is $37.54. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 135.85, a PEG ratio of 0.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.87 and a current ratio of 1.50. Darling Ingredients Inc. has a one year low of $26.00 and a one year high of $54.24.

Darling Ingredients (NYSE:DAR) last issued its earnings results on Thursday, January 29th. The company reported $0.35 earnings per share (EPS) for the quarter. Darling Ingredients had a return on equity of 2.36% and a net margin of 1.02%.The company had revenue of $1.71 billion during the quarter. On average, research analysts predict that Darling Ingredients Inc. will post 2.81 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler upped their price objective on Darling Ingredients from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Scotiabank reiterated an “outperform” rating and issued a $61.00 target price on shares of Darling Ingredients in a research note on Tuesday, February 17th. Robert W. Baird set a $64.00 price target on shares of Darling Ingredients in a research report on Friday, February 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Darling Ingredients in a report on Friday, February 13th. Finally, Zacks Research lowered shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.60.

Darling Ingredients Company 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.