Zacks Research Downgrades Darling Ingredients (NYSE:DAR) to Hold

Darling Ingredients (NYSE:DAR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

DAR has been the topic of several other reports. Wall Street Zen upgraded Darling Ingredients from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Stephens boosted their price objective on Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Scotiabank increased their price objective on Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Barclays raised their target price on shares of Darling Ingredients from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. Finally, TD Cowen decreased their target price on shares of Darling Ingredients from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.82.

Darling Ingredients Stock Up 1.3%

Shares of NYSE:DAR opened at $64.77 on Tuesday. The stock’s 50-day moving average price is $58.45 and its 200-day moving average price is $55.00. Darling Ingredients has a 12-month low of $29.15 and a 12-month high of $66.02. The stock has a market capitalization of $10.29 billion, a P/E ratio of 46.93 and a beta of 1.04. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.56 by $0.27. Darling Ingredients had a return on equity of 5.65% and a net margin of 3.54%.The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Darling Ingredients will post 4.67 earnings per share for the current year.

Insider Activity

In related news, CAO Joseph Manzi sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $63.89, for a total transaction of $191,670.00. Following the completion of the transaction, the chief accounting officer owned 19,969 shares in the company, valued at $1,275,819.41. This represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Darling Ingredients

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in Darling Ingredients by 17.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,022 shares of the company’s stock valued at $20,119,000 after purchasing an additional 93,408 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Darling Ingredients by 10.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,777 shares of the company’s stock worth $18,768,000 after purchasing an additional 58,925 shares during the period. Focus Partners Wealth bought a new stake in shares of Darling Ingredients during the 1st quarter valued at about $205,000. M&T Bank Corp increased its position in shares of Darling Ingredients by 11.2% during the second quarter. M&T Bank Corp now owns 8,384 shares of the company’s stock valued at $318,000 after buying an additional 847 shares during the period. Finally, Invesco Ltd. increased its position in shares of Darling Ingredients by 5.0% during the second quarter. Invesco Ltd. now owns 677,528 shares of the company’s stock valued at $25,705,000 after buying an additional 32,553 shares during the period. Institutional investors own 94.44% of the company’s stock.

About Darling Ingredients

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.