Analysts Set Darling Ingredients Inc. (NYSE:DAR) Price Target at $70.80

Darling Ingredients Inc. (NYSE:DAR) has been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $68.45.

A number of brokerages recently weighed in on DAR. BMO Capital Markets lowered their price target on shares of Darling Ingredients from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their target price on Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Scotiabank decreased their price target on Darling Ingredients from $73.00 to $57.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. TD Cowen dropped their price objective on Darling Ingredients from $51.00 to $45.00 and set a “hold” rating for the company in a report on Thursday. Finally, Citigroup upgraded shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, June 12th.

Institutional Trading of Darling Ingredients

Several hedge funds and other institutional investors have recently modified their holdings of DAR. Illinois Municipal Retirement Fund raised its position in Darling Ingredients by 111.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 30,212 shares of the company’s stock valued at $1,506,000 after buying an additional 15,933 shares during the last quarter. NFC Investments LLC bought a new stake in shares of Darling Ingredients in the fourth quarter worth $22,473,000. Jennison Associates LLC boosted its holdings in Darling Ingredients by 28.9% during the fourth quarter. Jennison Associates LLC now owns 1,008,227 shares of the company’s stock worth $50,250,000 after purchasing an additional 226,134 shares during the last quarter. Gates Capital Management Inc. bought a new position in Darling Ingredients in the fourth quarter valued at $88,885,000. Finally, Bank of Nova Scotia bought a new position in Darling Ingredients in the fourth quarter valued at $8,109,000. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

NYSE:DAR opened at $35.52 on Monday. The stock has a market capitalization of $5.68 billion, a P/E ratio of 10.63 and a beta of 1.26. The company has a current ratio of 1.67, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93. Darling Ingredients has a 1 year low of $34.83 and a 1 year high of $71.60. The firm has a 50 day moving average of $42.18 and a 200-day moving average of $44.09.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, April 25th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Darling Ingredients had a return on equity of 12.22% and a net margin of 8.46%. Darling Ingredients’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, sell-side analysts anticipate that Darling Ingredients will post 2.76 EPS for the current fiscal year.

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.