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

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

Other equities research analysts have also recently issued reports about the company. Scotiabank cut their price target on Darling Ingredients from $57.00 to $45.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Jefferies Financial Group cut their target price on Darling Ingredients from $47.00 to $44.00 and set a buy rating for the company in a research report on Monday, October 7th. Finally, TD Cowen decreased 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 research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $55.70.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $36.74 on Friday. The business’s 50 day moving average is $37.63 and its 200-day moving average is $39.38. The firm has a market cap of $5.87 billion, a P/E ratio of 11.00 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 company has a current ratio of 1.57, a quick ratio of 0.91 and a debt-to-equity ratio of 0.95.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Darling Ingredients’s quarterly revenue was down 17.2% on a year-over-year basis. Equities research analysts predict that Darling Ingredients will post 2.26 earnings per share for the current year.

Insider Activity at Darling Ingredients

In other news, EVP Robert W. Day purchased 2,532 shares of the company’s stock in a transaction dated 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 purchase, the executive vice president now owns 12,607 shares of the company’s stock, valued at approximately $496,337.59. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Darling Ingredients

Several hedge funds have recently added to or reduced their stakes in DAR. Rise Advisors LLC bought a new stake in shares of Darling Ingredients in the 1st quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 527 shares during the last quarter. Riverview Trust Co acquired a new stake in Darling Ingredients during the 1st quarter valued at approximately $55,000. Quarry LP raised its holdings in Darling Ingredients by 893.8% during the 2nd quarter. Quarry LP now owns 2,584 shares of the company’s stock worth $95,000 after purchasing an additional 2,324 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Darling Ingredients by 56.9% in the 4th quarter. V Square Quantitative Management LLC now owns 1,997 shares of the company’s stock worth $100,000 after purchasing an additional 724 shares during the period. 94.44% of the stock is currently owned by institutional investors and hedge funds.

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.