Darling Ingredients (NYSE:DAR) Shares Up 6% – Here’s Why

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

Analyst Ratings Changes

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

Darling Ingredients Price Performance

The company has a market capitalization of $6.32 billion, a PE ratio of 11.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.57 and a quick ratio of 0.91. The company’s 50 day simple moving average is $37.61 and its 200 day simple moving average is $39.05.

Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, October 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The company’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period last year, the business earned $0.77 earnings per share. As a group, sell-side analysts predict that Darling Ingredients Inc. will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Robert W. Day purchased 2,532 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average price of $39.37 per share, for a total transaction of $99,684.84. Following the acquisition, the executive vice president now directly owns 12,607 shares of the company’s stock, valued at $496,337.59. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.62% of the company’s stock.

Institutional Trading of Darling Ingredients

A number of institutional investors have recently bought and sold shares of DAR. Vanguard Group Inc. raised its position in Darling Ingredients by 1.5% during the first quarter. Vanguard Group Inc. now owns 15,610,753 shares of the company’s stock worth $726,056,000 after acquiring an additional 232,583 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Darling Ingredients by 52.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock worth $192,445,000 after acquiring an additional 1,800,809 shares during the last quarter. Earnest Partners LLC grew its holdings in Darling Ingredients by 14.0% in the second quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock valued at $140,725,000 after purchasing an additional 470,170 shares during the period. Jennison Associates LLC increased its position in Darling Ingredients by 55.0% during the first quarter. Jennison Associates LLC now owns 1,562,739 shares of the company’s stock worth $72,683,000 after purchasing an additional 554,512 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Darling Ingredients by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock worth $50,210,000 after purchasing an additional 15,414 shares during the period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Company Profile

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.