Darling Ingredients (NYSE:DAR) Rating Increased to Strong-Buy at Zacks Research

Darling Ingredients (NYSE:DAR) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on DAR. Wall Street Zen raised shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Barclays increased their price objective on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Scotiabank boosted their target price on Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. TD Cowen upped their target price on Darling Ingredients from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. increased their price target on Darling Ingredients from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Darling Ingredients currently has an average rating of “Moderate Buy” and an average target price of $69.00.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $67.74 on Wednesday. The company has a market capitalization of $10.69 billion, a PE ratio of 18.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. The company has a 50-day simple moving average of $59.69 and a two-hundred day simple moving average of $58.24. Darling Ingredients has a one year low of $29.15 and a one year high of $69.98.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $1.01. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. Research analysts expect that Darling Ingredients will post 6.98 EPS for the current fiscal year.

Insider Transactions at Darling Ingredients

In other Darling Ingredients news, EVP Nicholas James Kemphaus sold 1,591 shares of Darling Ingredients stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $63.05, for a total transaction of $100,312.55. Following the completion of the sale, the executive vice president owned 35,087 shares of the company’s stock, valued at approximately $2,212,235.35. The trade was a 4.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles L. Adair purchased 1,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $60.97 per share, for a total transaction of $60,970.00. Following the purchase, the director owned 51,690 shares in the company, valued at approximately $3,151,539.30. The trade was a 1.97% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 10,591 shares of company stock worth $704,303. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Darling Ingredients during the second quarter valued at $851,450,000. Deutsche Bank AG acquired a new position in shares of Darling Ingredients during the second quarter valued at approximately $168,348,000. Norges Bank purchased a new position in Darling Ingredients in the 4th quarter valued at $94,211,000. Bank of America Corp DE purchased a new position in shares of Darling Ingredients in the second quarter worth about $129,371,000. Finally, No Street GP LP purchased a new position in Darling Ingredients in the 3rd quarter worth approximately $69,458,000. 94.44% of the stock is owned by institutional investors and hedge funds.

About Darling Ingredients

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.