JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Darling Ingredients (NYSE:DAR) Stock

Darling Ingredients (NYSE:DAR) had its price target raised by analysts at JPMorgan Chase & Co. from $58.00 to $59.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 50.82% from the company’s current price.

DAR has been the topic of several other research reports. Piper Sandler reduced their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. TD Cowen decreased their price target on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Scotiabank dropped their price objective on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Jefferies Financial Group upped their price objective on Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.60.

Darling Ingredients Stock Performance

NYSE DAR opened at $39.12 on Wednesday. Darling Ingredients has a 1-year low of $32.67 and a 1-year high of $51.36. The company has a 50 day moving average of $37.61 and a 200-day moving average of $38.80. The company has a current ratio of 1.57, a quick ratio of 0.91 and a debt-to-equity ratio of 0.95. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 11.71 and a beta of 1.24.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. On average, equities analysts forecast that Darling Ingredients will post 2.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Darling Ingredients

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Michigan Retirement System increased its stake in shares of Darling Ingredients by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 43,074 shares of the company’s stock valued at $2,003,000 after acquiring an additional 900 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Darling Ingredients by 34.8% in the first quarter. BNP Paribas Financial Markets now owns 114,823 shares of the company’s stock worth $5,340,000 after purchasing an additional 29,660 shares during the period. Janney Capital Management LLC bought a new position in shares of Darling Ingredients during the first quarter worth $328,000. BNP Paribas bought a new stake in shares of Darling Ingredients in the 1st quarter valued at $642,000. Finally, Nordea Investment Management AB raised its stake in Darling Ingredients by 6.1% during the 1st quarter. Nordea Investment Management AB now owns 668,413 shares of the company’s stock worth $31,188,000 after buying an additional 38,618 shares during the period. Institutional investors own 94.44% of the company’s stock.

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.