Net Worth Advisory Group Takes $226,000 Position in Darling Ingredients Inc. (NYSE:DAR)

Net Worth Advisory Group acquired a new position in Darling Ingredients Inc. (NYSE:DAR) in the third quarter, Holdings Channel reports. The fund acquired 6,078 shares of the company’s stock, valued at approximately $226,000.

Other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. lifted its stake in shares of Darling Ingredients by 12.9% during the 3rd quarter. NBC Securities Inc. now owns 23,183 shares of the company’s stock worth $861,000 after purchasing an additional 2,655 shares during the last quarter. Creative Planning raised its holdings in Darling Ingredients by 21.9% in the third quarter. Creative Planning now owns 22,354 shares of the company’s stock worth $831,000 after purchasing an additional 4,021 shares in the last quarter. Harrington Investments INC lifted its position in shares of Darling Ingredients by 5.1% during the third quarter. Harrington Investments INC now owns 14,424 shares of the company’s stock valued at $536,000 after buying an additional 700 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its holdings in shares of Darling Ingredients by 11.1% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 4,960 shares of the company’s stock valued at $184,000 after buying an additional 496 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Darling Ingredients by 173.9% in the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock worth $31,000 after buying an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DAR. Scotiabank lowered their target price on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Jefferies Financial Group dropped their target price on Darling Ingredients from $47.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, October 7th. Piper Sandler decreased their price target on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, TD Cowen dropped their price target on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.70.

Darling Ingredients Stock Performance

Shares of NYSE DAR opened at $38.19 on Tuesday. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 11.43 and a beta of 1.24. Darling Ingredients Inc. has a 12 month low of $32.67 and a 12 month high of $51.36. The company has a 50 day simple moving average of $37.76 and a two-hundred day simple moving average of $39.10. 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 2.26 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Robert W. Day acquired 2,532 shares of the stock in a transaction on Wednesday, July 31st. The shares were acquired at an average price of $39.37 per share, for a total transaction of $99,684.84. Following the transaction, the executive vice president now owns 12,607 shares in the company, valued at approximately $496,337.59. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.62% of the stock is owned by corporate insiders.

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.