Darling Ingredients (NYSE:DAR) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Darling Ingredients (NYSE:DAR) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on DAR. Robert W. Baird upped their target price on Darling Ingredients from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. TD Cowen cut their price target on Darling Ingredients from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Wall Street Zen raised Darling Ingredients from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Stephens upped their price objective on Darling Ingredients from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Finally, Scotiabank raised their price objective on Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.82.

Darling Ingredients Trading Down 2.1%

NYSE DAR opened at $63.41 on Tuesday. Darling Ingredients has a one year low of $29.15 and a one year high of $66.02. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.58. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 45.95 and a beta of 1.04. The company’s 50-day simple moving average is $58.46 and its two-hundred day simple moving average is $55.18.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the company earned ($0.16) EPS. The company’s revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that Darling Ingredients will post 5.04 EPS for the current fiscal year.

Insider Transactions at Darling Ingredients

In related news, CAO Joseph Manzi sold 3,000 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the transaction, the chief accounting officer directly owned 19,969 shares of the company’s stock, valued at $1,275,819.41. This represents a 13.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Darling Ingredients

Large investors have recently modified their holdings of the business. AIA Group Ltd purchased a new position in Darling Ingredients during the 1st quarter worth approximately $4,453,000. Assenagon Asset Management S.A. boosted its holdings in shares of Darling Ingredients by 4.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,209,775 shares of the company’s stock valued at $43,552,000 after acquiring an additional 56,662 shares during the last quarter. Fideuram Asset Management Ireland dac acquired a new stake in shares of Darling Ingredients in the fourth quarter worth $585,000. BNP Paribas Financial Markets increased its stake in shares of Darling Ingredients by 26.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,310,516 shares of the company’s stock worth $47,179,000 after acquiring an additional 277,233 shares during the period. Finally, Ninety One UK Ltd increased its stake in shares of Darling Ingredients by 28.3% in the fourth quarter. Ninety One UK Ltd now owns 518,796 shares of the company’s stock worth $18,677,000 after acquiring an additional 114,397 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

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.