Darling Ingredients (NYSE:DAR) Price Target Raised to $83.00

Darling Ingredients (NYSE:DAR) had its target price boosted by JPMorgan Chase & Co. from $82.00 to $83.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on DAR. TD Cowen lifted their price objective on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Jefferies Financial Group upgraded shares of Darling Ingredients to a “strong-buy” rating in a report on Tuesday, September 29th. Zacks Research cut shares of Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Wall Street Zen upgraded shares of Darling Ingredients from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Darling Ingredients from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.80.

Darling Ingredients Trading Down 1.1%

DAR stock opened at $62.38 on Monday. The firm has a fifty day moving average price of $63.83 and a 200 day moving average price of $61.22. Darling Ingredients has a fifty-two week low of $30.39 and a fifty-two week high of $69.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56. The firm has a market cap of $9.84 billion, a PE ratio of 16.81 and a beta of 1.04.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $1.01. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. Darling Ingredients’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Sell-side analysts anticipate that Darling Ingredients will post 7.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles Adair bought 1,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $60.97 per share, with a total value of $60,970.00. Following the transaction, the director owned 51,690 shares in the company, valued at $3,151,539.30. This trade represents a 1.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas Kemphaus sold 1,591 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the sale, the executive vice president owned 35,087 shares in the company, valued at $2,212,235.35. The trade was a 4.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,591 shares of company stock worth $704,303 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Darling Ingredients in the 2nd quarter valued at about $851,450,000. Dimensional Fund Advisors LP grew its stake in Darling Ingredients by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company’s stock worth $498,927,000 after acquiring an additional 47,565 shares in the last quarter. Deutsche Bank AG bought a new position in Darling Ingredients in the 2nd quarter worth about $168,348,000. Bank of America Corp DE purchased a new position in shares of Darling Ingredients during the second quarter worth approximately $129,371,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Darling Ingredients by 5.8% during the second quarter. Assenagon Asset Management S.A. now owns 2,212,634 shares of the company’s stock worth $120,854,000 after acquiring an additional 120,674 shares during the period. Institutional investors own 94.44% of the company’s stock.

About Darling Ingredients

Darling Ingredients Inc is a global developer and producer of sustainable ingredients created from animal by-products, food waste and used cooking oil. The company collects and transforms these materials into products used in animal feed, pet food, agriculture, food, fuel and other industrial applications.

Its products include rendered fats and proteins, specialty feed ingredients, fertilizer inputs, collagen and gelatin, and bioenergy feedstocks. Through its renewable diesel operations, including the Diamond Green Diesel joint venture, Darling also converts low-carbon waste fats and oils into renewable fuel.

Founded in 1882, Darling Ingredients has grown from a U.S.