Darling Ingredients (NYSE:DAR) Trading 6% Higher – Here’s Why

Darling Ingredients Inc. (NYSE:DAR)’s stock price rose 6% on Friday . The company traded as high as $40.04 and last traded at $40.03. Approximately 195,781 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,153,902 shares. The stock had previously closed at $37.76.

Wall Street Analysts Forecast Growth

DAR has been the topic of several analyst reports. Piper Sandler lowered their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Scotiabank dropped their target price on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Jefferies Financial Group lowered their price target on Darling Ingredients from $47.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 7th. Finally, TD Cowen cut their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Darling Ingredients has a consensus rating of “Moderate Buy” and an average price target of $55.70.

Darling Ingredients Stock Up 4.7 %

The stock has a market cap of $6.32 billion, a PE ratio of 11.99 and a beta of 1.24. The business has a fifty day moving average of $37.61 and a 200-day moving average of $39.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.57 and a quick ratio of 0.91.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.29). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. Equities research analysts anticipate that Darling Ingredients Inc. will post 2.26 earnings per share for the current year.

Insider Activity

In other news, EVP Robert W. Day purchased 2,532 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were acquired at an average cost of $39.37 per share, with a total value of $99,684.84. Following the completion of the acquisition, the executive vice president now owns 12,607 shares of the company’s stock, valued at $496,337.59. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.62% of the company’s stock.

Institutional Investors Weigh In On Darling Ingredients

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Caprock Group LLC increased its holdings in Darling Ingredients by 4.3% in the first quarter. Caprock Group LLC now owns 6,691 shares of the company’s stock valued at $311,000 after buying an additional 277 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Darling Ingredients by 38.0% in the 3rd quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock valued at $38,000 after purchasing an additional 288 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Darling Ingredients by 2.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 12,015 shares of the company’s stock worth $446,000 after purchasing an additional 310 shares during the period. Signaturefd LLC boosted its position in Darling Ingredients by 75.0% during the third quarter. Signaturefd LLC now owns 901 shares of the company’s stock worth $33,000 after purchasing an additional 386 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc grew its holdings in Darling Ingredients by 11.1% in the third quarter. Guinness Atkinson Asset Management Inc now owns 4,960 shares of the company’s stock valued at $184,000 after purchasing an additional 496 shares during the period. 94.44% of the stock is currently owned by institutional investors and hedge funds.

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.