Darling Ingredients (NYSE:DAR) Trading Up 5.4% – Here’s What Happened

Darling Ingredients Inc. (NYSE:DAR) shares rose 5.4% on Friday . The stock traded as high as $36.75 and last traded at $35.49. Approximately 533,753 shares changed hands during trading, a decline of 66% from the average daily volume of 1,576,558 shares. The stock had previously closed at $33.66.

Wall Street Analysts Forecast Growth

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

Darling Ingredients Stock Performance

The company’s fifty day simple moving average is $37.41 and its 200 day simple moving average is $37.54. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 22.51 and a beta of 1.21.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data 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). The firm 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 5.98% and a net margin of 4.42%. The company’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. On average, equities research analysts expect that Darling Ingredients Inc. will post 1.88 earnings per share for the current year.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds have recently bought and sold shares of DAR. National Bank of Canada FI boosted its position in shares of Darling Ingredients by 350.5% during the 2nd quarter. National Bank of Canada FI now owns 44,421 shares of the company’s stock worth $1,596,000 after acquiring an additional 34,560 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Darling Ingredients by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 44,731 shares of the company’s stock worth $1,644,000 after buying an additional 852 shares during the last quarter. Caprock Group LLC grew its position in Darling Ingredients by 55.0% in the second quarter. Caprock Group LLC now owns 10,372 shares of the company’s stock valued at $381,000 after acquiring an additional 3,681 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Darling Ingredients in the second quarter worth about $265,000. Finally, Quest Partners LLC grew its holdings in shares of Darling Ingredients by 53,187.5% during the 2nd quarter. Quest Partners LLC now owns 12,789 shares of the company’s stock valued at $470,000 after purchasing an additional 12,765 shares during the last quarter. 94.44% of the stock is owned by 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.