Darling Ingredients Inc. (NYSE:DAR) Position Increased by State of Michigan Retirement System

State of Michigan Retirement System raised its position in Darling Ingredients Inc. (NYSE:DAR) by 2.1% during the first quarter, HoldingsChannel.com reports. The firm owned 43,074 shares of the company’s stock after buying an additional 900 shares during the quarter. State of Michigan Retirement System’s holdings in Darling Ingredients were worth $2,003,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Darling Ingredients during the 4th quarter valued at about $94,650,000. Balyasny Asset Management L.P. bought a new position in Darling Ingredients during the fourth quarter valued at approximately $92,661,000. Gates Capital Management Inc. bought a new position in Darling Ingredients during the fourth quarter valued at approximately $88,885,000. NFC Investments LLC acquired a new stake in Darling Ingredients in the fourth quarter valued at approximately $22,473,000. Finally, Deutsche Bank AG grew its position in Darling Ingredients by 10.9% in the third quarter. Deutsche Bank AG now owns 3,858,209 shares of the company’s stock worth $201,399,000 after acquiring an additional 378,304 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

Darling Ingredients Trading Down 0.6 %

Shares of DAR stock opened at $36.96 on Friday. The firm has a market capitalization of $5.91 billion, a P/E ratio of 11.07 and a beta of 1.26. Darling Ingredients Inc. has a 1 year low of $33.94 and a 1 year high of $71.60. The firm’s fifty day simple moving average is $39.92 and its 200 day simple moving average is $43.07. The company has a current ratio of 1.67, a quick ratio of 0.96 and a debt-to-equity ratio of 0.93.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Darling Ingredients had a return on equity of 12.22% and a net margin of 8.46%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $1.16 EPS. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, sell-side analysts predict that Darling Ingredients Inc. will post 2.65 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on DAR. Stifel Nicolaus reduced their price objective on shares of Darling Ingredients from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, May 20th. JPMorgan Chase & Co. decreased their price target on Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. TD Cowen lowered their price objective on Darling Ingredients from $51.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, June 13th. Citigroup upgraded Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, June 12th. Finally, Scotiabank lowered their price target on Darling Ingredients from $73.00 to $57.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.45.

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.