Darling Ingredients (NYSE:DAR) PT Lowered to $48.00 at Piper Sandler

Darling Ingredients (NYSE:DAR) had its price objective trimmed by Piper Sandler from $50.00 to $48.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the company. Scotiabank cut their price objective 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. Jefferies Financial Group dropped their price target on Darling Ingredients from $47.00 to $44.00 and set a buy rating on the stock in a research report on Monday, October 7th. Finally, TD Cowen dropped their price target on 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $55.70.

Darling Ingredients Stock Up 2.7 %

Shares of DAR opened at $36.98 on Friday. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 11.07 and a beta of 1.24. Darling Ingredients has a 1 year low of $32.67 and a 1 year high of $51.36. The business’s 50 day simple moving average is $37.61 and its 200-day simple moving average is $39.45. 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 issued its quarterly earnings data on Thursday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.10. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm earned $1.55 EPS. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, equities analysts expect that Darling Ingredients will post 2.26 earnings per share for the current fiscal year.

Insider Activity at Darling Ingredients

In other Darling Ingredients news, EVP Robert W. Day purchased 2,532 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $39.37 per share, for a total transaction of $99,684.84. Following the completion of the purchase, the executive vice president now owns 12,607 shares in the company, valued at $496,337.59. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Darling Ingredients

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caprock Group LLC raised its stake 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 during the last quarter. Fisher Asset Management LLC raised its stake in Darling Ingredients by 1.5% in the fourth quarter. Fisher Asset Management LLC now owns 23,494 shares of the company’s stock valued at $1,171,000 after buying an additional 341 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its stake 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 buying an additional 496 shares during the last quarter. Invesco LLC raised its stake in Darling Ingredients by 10.0% in the first quarter. Invesco LLC now owns 5,556 shares of the company’s stock valued at $258,000 after buying an additional 507 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Darling Ingredients by 173.9% in the third quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock valued at $31,000 after buying an additional 527 shares during the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

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.