Brokerages Set Darling Ingredients Inc. (NYSE:DAR) Price Target at $60.10

Darling Ingredients Inc. (NYSE:DAR) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $60.10.

Several brokerages have weighed in on DAR. TD Cowen cut 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. Citigroup raised Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, June 12th. Scotiabank cut their price target on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Jefferies Financial Group reduced their target price on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, July 26th.

Insider Activity

In other Darling Ingredients news, EVP Robert W. Day bought 2,532 shares of Darling Ingredients stock in a transaction on Wednesday, July 31st. The shares were bought at an average price of $39.37 per share, for a total transaction of $99,684.84. Following the completion of the transaction, the executive vice president now directly owns 12,607 shares of the company’s stock, valued at $496,337.59. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in shares of Darling Ingredients in the second quarter valued at approximately $319,000. Quarry LP grew its stake in shares of Darling Ingredients by 893.8% during the second quarter. Quarry LP now owns 2,584 shares of the company’s stock worth $95,000 after purchasing an additional 2,324 shares in the last quarter. Creative Planning raised its stake in Darling Ingredients by 9.6% in the second quarter. Creative Planning now owns 18,333 shares of the company’s stock valued at $674,000 after buying an additional 1,607 shares in the last quarter. Algert Global LLC purchased a new stake in Darling Ingredients during the 2nd quarter worth about $1,041,000. Finally, MidWestOne Financial Group Inc. boosted its position in shares of Darling Ingredients by 19.7% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 31,185 shares of the company’s stock worth $1,146,000 after acquiring an additional 5,128 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Darling Ingredients Price Performance

NYSE DAR opened at $36.75 on Wednesday. The stock’s fifty day moving average price is $38.04 and its 200 day moving average price is $40.34. Darling Ingredients has a 1 year low of $32.67 and a 1 year high of $56.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.57 and a quick ratio of 0.91. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 11.00 and a beta of 1.24.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, July 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s revenue was down 17.2% compared to the same quarter last year. As a group, equities research analysts forecast that Darling Ingredients will post 2.47 earnings per share for the current year.

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.