Oppenheimer Asset Management Inc. Increases Stock Holdings in Darling Ingredients Inc. (NYSE:DAR)

Oppenheimer Asset Management Inc. boosted its stake in Darling Ingredients Inc. (NYSE:DAR) by 19.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,650 shares of the company’s stock after acquiring an additional 24,435 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.09% of Darling Ingredients worth $5,487,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DAR. Envestnet Portfolio Solutions Inc. lifted its holdings in Darling Ingredients by 23.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,404 shares of the company’s stock worth $484,000 after buying an additional 1,960 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Darling Ingredients by 16.9% in the first quarter. QRG Capital Management Inc. now owns 6,103 shares of the company’s stock worth $284,000 after acquiring an additional 883 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Darling Ingredients by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 287,893 shares of the company’s stock valued at $13,372,000 after purchasing an additional 811 shares during the last quarter. Entropy Technologies LP acquired a new stake in Darling Ingredients during the 1st quarter valued at approximately $348,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in Darling Ingredients by 3.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 160,723 shares of the company’s stock worth $7,475,000 after purchasing an additional 4,842 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD Cowen decreased their price target on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, September 13th. JPMorgan Chase & Co. upped their target price on shares of Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler decreased their price target on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Jefferies Financial Group upped their price objective on Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.44.

Darling Ingredients Stock Down 2.2 %

Shares of Darling Ingredients stock opened at $41.09 on Friday. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 25.36 and a beta of 1.23. Darling Ingredients Inc. has a twelve month low of $32.67 and a twelve month high of $51.36. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. The business’s 50 day simple moving average is $37.63 and its 200-day simple moving average is $38.65.

Darling Ingredients (NYSE:DAR) last posted its earnings results on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The business’s quarterly revenue was down 12.5% compared to the same quarter last year. Equities research analysts forecast that Darling Ingredients Inc. will post 1.88 earnings per share for the current year.

Darling Ingredients 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.