Thoroughbred Financial Services LLC Takes Position in Darling Ingredients Inc. (NYSE:DAR)

Thoroughbred Financial Services LLC acquired a new position in Darling Ingredients Inc. (NYSE:DAR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,892 shares of the company’s stock, valued at approximately $253,000.

Other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Darling Ingredients by 18.1% in the 4th quarter. BNP Paribas Financial Markets now owns 70,670 shares of the company’s stock worth $3,522,000 after acquiring an additional 10,856 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in Darling Ingredients by 9.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,290 shares of the company’s stock worth $214,000 after purchasing an additional 371 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Darling Ingredients by 156.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the company’s stock valued at $136,000 after buying an additional 1,662 shares during the last quarter. ING Groep NV bought a new stake in shares of Darling Ingredients in the 4th quarter valued at about $1,904,000. Finally, Norges Bank purchased a new position in shares of Darling Ingredients in the 4th quarter worth approximately $94,650,000. Institutional investors own 94.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert W. Day purchased 2,532 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $39.37 per share, with a total value of $99,684.84. Following the completion of the acquisition, the executive vice president now owns 12,607 shares of the company’s stock, valued at approximately $496,337.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup raised shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, June 12th. Jefferies Financial Group lowered their price objective on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Scotiabank reduced their target price on Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, TD Cowen lowered their price target on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.10.

Darling Ingredients Stock Performance

Shares of NYSE DAR opened at $35.45 on Wednesday. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 10.61 and a beta of 1.24. Darling Ingredients Inc. has a 12 month low of $32.67 and a 12 month high of $58.27. The company has a 50 day simple moving average of $38.12 and a two-hundred day simple moving average of $40.49. 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 posted its quarterly earnings results on Thursday, July 25th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The firm’s revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.55 earnings per share. As a group, analysts predict that Darling Ingredients Inc. will post 2.47 earnings per share for the current year.

Darling Ingredients 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.