Darling Ingredients (NYSE:DAR) Shares Gap Up Following Earnings Beat

Darling Ingredients Inc. (NYSE:DAR)’s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $36.05, but opened at $38.25. Darling Ingredients shares last traded at $38.96, with a volume of 135,152 shares trading hands.

The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.15. Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DAR shares. Piper Sandler decreased their price objective on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Jefferies Financial Group increased their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Stephens restated an “overweight” rating and issued a $52.00 price objective on shares of Darling Ingredients in a research note on Thursday, January 23rd. Citigroup decreased their target price on shares of Darling Ingredients from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their price objective on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.22.

Institutional Investors Weigh In On Darling Ingredients

A number of institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC lifted its holdings in shares of Darling Ingredients by 266.6% in the 3rd quarter. Algert Global LLC now owns 103,871 shares of the company’s stock valued at $3,860,000 after buying an additional 75,540 shares during the period. Natixis Advisors LLC raised its position in Darling Ingredients by 23.2% in the third quarter. Natixis Advisors LLC now owns 107,913 shares of the company’s stock worth $4,010,000 after acquiring an additional 20,323 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Darling Ingredients in the third quarter valued at $30,545,000. Jennison Associates LLC boosted its position in shares of Darling Ingredients by 4.1% during the 3rd quarter. Jennison Associates LLC now owns 1,093,516 shares of the company’s stock worth $40,635,000 after purchasing an additional 42,921 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Darling Ingredients by 203.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,844,297 shares of the company’s stock worth $62,134,000 after purchasing an additional 1,235,985 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

The firm has a fifty day moving average of $35.52 and a 200-day moving average of $37.46. 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 $6.12 billion, a price-to-earnings ratio of 23.73 and a beta of 1.21.

Darling Ingredients Company 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.