Darling Ingredients (NYSE:DAR) Shares Gap Down on Disappointing Earnings

Darling Ingredients Inc. (NYSE:DAR) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $38.25, but opened at $36.50. Darling Ingredients shares last traded at $37.97, with a volume of 798,432 shares trading hands.

The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. The company’s quarterly revenue was down 12.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

DAR has been the topic of a number of research analyst reports. TD Cowen reduced their price target on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, September 13th. Piper Sandler reduced their target price on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Scotiabank dropped their price target on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Jefferies Financial Group lifted their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday. Two research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.90.

Insider Transactions at Darling Ingredients

In other Darling Ingredients news, EVP Robert W. Day purchased 2,532 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average cost of $39.37 per share, with a total value of $99,684.84. Following the transaction, the executive vice president now directly owns 12,607 shares in the company, valued at approximately $496,337.59. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Darling Ingredients

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in shares of Darling Ingredients by 2.6% during the third quarter. Nisa Investment Advisors LLC now owns 12,015 shares of the company’s stock valued at $446,000 after buying an additional 310 shares during the last quarter. State of Alaska Department of Revenue grew its position in Darling Ingredients by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 18,560 shares of the company’s stock valued at $689,000 after buying an additional 1,250 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Darling Ingredients by 219.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 103,814 shares of the company’s stock worth $3,897,000 after acquiring an additional 71,314 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Darling Ingredients by 16.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,778 shares of the company’s stock worth $252,000 after buying an additional 952 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in Darling Ingredients by 31.4% during the third quarter. Ballentine Partners LLC now owns 9,481 shares of the company’s stock valued at $352,000 after purchasing an additional 2,268 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Darling Ingredients Price Performance

The firm has a market cap of $6.25 billion, a PE ratio of 11.71 and a beta of 1.24. The company has a current ratio of 1.57, a quick ratio of 0.91 and a debt-to-equity ratio of 0.95. The stock has a 50 day simple moving average of $37.60 and a 200-day simple moving average of $39.00.

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.