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

Darling Ingredients (NYSE:DAR) had its price target reduced by Scotiabank from $57.00 to $45.00 in a research note released on Friday, Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other analysts have also recently commented on the company. TD Cowen lowered their price target on Darling Ingredients from $51.00 to $45.00 and set a hold rating for the company in a research note on Thursday, June 13th. Citigroup raised shares of Darling Ingredients from a neutral rating to a buy rating and set a $48.00 target price for the company in a research note on Wednesday, June 12th. Stifel Nicolaus reduced their price target on shares of Darling Ingredients from $90.00 to $85.00 and set a buy rating on the stock in a research report on Monday, May 20th. Finally, JPMorgan Chase & Co. lowered 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 report on Wednesday, April 17th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $67.36.

Darling Ingredients Price Performance

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

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results 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 company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Darling Ingredients had a return on equity of 12.22% and a net margin of 8.46%. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. As a group, analysts forecast that Darling Ingredients will post 2.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its position in Darling Ingredients by 111.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 30,212 shares of the company’s stock worth $1,506,000 after acquiring an additional 15,933 shares during the last quarter. Jennison Associates LLC grew its position in Darling Ingredients by 55.0% in the first 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 in the last quarter. BNP Paribas Financial Markets increased its stake in Darling Ingredients by 34.8% in the 1st quarter. BNP Paribas Financial Markets now owns 114,823 shares of the company’s stock valued at $5,340,000 after buying an additional 29,660 shares during the last quarter. NFC Investments LLC bought a new stake in Darling Ingredients during the 4th quarter worth about $22,473,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Darling Ingredients by 15.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,595,089 shares of the company’s stock worth $79,499,000 after buying an additional 213,763 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.

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.