Darling Ingredients (NYSE:DAR) Trading 4.2% Higher – Time to Buy?

Shares of Darling Ingredients Inc. (NYSE:DAR) rose 4.2% on Friday . The company traded as high as $42.83 and last traded at $42.79. Approximately 1,098,755 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 2,153,185 shares. The stock had previously closed at $41.08.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. 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. Jefferies Financial Group increased their target price on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Piper Sandler decreased their price target on shares of 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, JPMorgan Chase & Co. increased their price objective on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Darling Ingredients Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.41. The business has a 50 day simple moving average of $37.63 and a 200-day simple moving average of $38.65. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 25.36 and a beta of 1.23.

Darling Ingredients (NYSE:DAR) last announced its earnings results on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.29). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Equities research analysts expect that Darling Ingredients Inc. will post 1.88 earnings per share for the current year.

Hedge Funds Weigh In On Darling Ingredients

Several hedge funds have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its position in shares of Darling Ingredients by 23.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,404 shares of the company’s stock valued at $484,000 after acquiring an additional 1,960 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Darling Ingredients by 16.9% during the 1st quarter. QRG Capital Management Inc. now owns 6,103 shares of the company’s stock valued at $284,000 after purchasing an additional 883 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Darling Ingredients by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 287,893 shares of the company’s stock valued at $13,372,000 after purchasing an additional 811 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Darling Ingredients in the 1st quarter worth about $348,000. Finally, State Board of Administration of Florida Retirement System grew its position in Darling Ingredients by 3.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 160,723 shares of the company’s stock valued at $7,475,000 after buying an additional 4,842 shares during the period. 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.