Scotiabank Trims Darling Ingredients (NYSE:DAR) Target Price to $45.00

Darling Ingredients (NYSE:DAR) had its price objective trimmed by Scotiabank from $57.00 to $45.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a sector outperform rating on the stock.

A number of other equities analysts have also recently issued reports on DAR. Citigroup upgraded Darling Ingredients from a neutral rating to a buy rating and set a $48.00 target price on the stock in a report on Wednesday, June 12th. JPMorgan Chase & Co. reduced their price objective on shares of 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 dropped their target price on shares of Darling Ingredients from $51.00 to $45.00 and set a hold rating on the stock in a research report on Thursday, June 13th. Finally, Stifel Nicolaus reduced their price target on shares of Darling Ingredients from $90.00 to $85.00 and set a buy rating for the company in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $67.36.

Darling Ingredients Price Performance

NYSE:DAR opened at $38.00 on Friday. Darling Ingredients has a 52-week low of $33.94 and a 52-week high of $71.60. The company has a quick ratio of 0.96, a current ratio of 1.67 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.07 billion, a P/E ratio of 11.38 and a beta of 1.26. The business’s 50-day moving average price is $39.17 and its 200 day moving average price is $42.44.

Darling Ingredients (NYSE:DAR) last announced 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). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Darling Ingredients had a return on equity of 12.22% and a net margin of 8.46%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. As a group, sell-side analysts predict that Darling Ingredients will post 2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DAR. Norges Bank bought a new stake in shares of Darling Ingredients in the 4th quarter valued at approximately $94,650,000. Balyasny Asset Management L.P. bought a new stake in Darling Ingredients in the fourth quarter worth approximately $92,661,000. Gates Capital Management Inc. acquired a new position in shares of Darling Ingredients during the 4th quarter worth $88,885,000. Bank of New York Mellon Corp raised its holdings in shares of Darling Ingredients by 24.9% during the 1st quarter. Bank of New York Mellon Corp now owns 4,279,247 shares of the company’s stock valued at $199,028,000 after purchasing an additional 851,886 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Darling Ingredients by 55.0% in the 1st quarter. Jennison Associates LLC now owns 1,562,739 shares of the company’s stock valued at $72,683,000 after purchasing an additional 554,512 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Darling Ingredients Company Profile

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.