Darling Ingredients (NYSE:DAR) Shares Gap Up on Earnings Beat

Darling Ingredients Inc. (NYSE:DAR) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $36.05, but opened at $38.25. Darling Ingredients shares last traded at $38.96, with a volume of 135,152 shares traded.

The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. Darling Ingredients had a return on equity of 5.98% and a net margin of 4.42%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DAR shares. Stephens restated an “overweight” rating and issued a $52.00 price target on shares of Darling Ingredients in a research note on Thursday, January 23rd. Jefferies Financial Group lifted their price objective on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Piper Sandler lowered their price target on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their target price on Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citigroup reduced their price objective on shares of Darling Ingredients from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.22.

Institutional Investors Weigh In On Darling Ingredients

A number of hedge funds and other institutional investors have recently modified their holdings of DAR. Heck Capital Advisors LLC bought a new position in Darling Ingredients during the fourth quarter worth about $25,000. GAMMA Investing LLC increased its holdings in shares of Darling Ingredients by 173.9% during the third quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock worth $31,000 after purchasing an additional 527 shares during the period. Signaturefd LLC raised its position in shares of Darling Ingredients by 75.0% in the third quarter. Signaturefd LLC now owns 901 shares of the company’s stock valued at $33,000 after buying an additional 386 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Darling Ingredients by 38.0% in the third quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock valued at $38,000 after buying an additional 288 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its position in Darling Ingredients by 157.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,180 shares of the company’s stock worth $40,000 after buying an additional 721 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

The stock has a market cap of $6.21 billion, a P/E ratio of 24.02 and a beta of 1.21. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. The stock has a 50 day simple moving average of $35.56 and a 200 day simple moving average of $37.45.

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.