Covea Finance Buys 9,000 Shares of Darling Ingredients Inc. (NYSE:DAR)

Covea Finance boosted its position in Darling Ingredients Inc. (NYSE:DAR) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,000 shares of the company’s stock after purchasing an additional 9,000 shares during the quarter. Covea Finance’s holdings in Darling Ingredients were worth $2,156,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DAR. Blue Trust Inc. raised its stake in shares of Darling Ingredients by 38.0% during the 3rd quarter. Blue Trust Inc. now owns 1,046 shares of the company’s stock worth $38,000 after acquiring an additional 288 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Darling Ingredients by 2.6% in the third quarter. Nisa Investment Advisors LLC now owns 12,015 shares of the company’s stock worth $446,000 after purchasing an additional 310 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Darling Ingredients by 75.0% during the 3rd quarter. Signaturefd LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 386 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of Darling Ingredients by 5.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 7,609 shares of the company’s stock worth $283,000 after purchasing an additional 412 shares in the last quarter. Finally, Corbyn Investment Management Inc. MD grew its stake in Darling Ingredients by 1.6% during the 3rd quarter. Corbyn Investment Management Inc. MD now owns 29,676 shares of the company’s stock worth $1,103,000 after buying an additional 455 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DAR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler lowered their target price 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, Jefferies Financial Group upped their price target on shares of Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Darling Ingredients presently has an average rating of “Moderate Buy” and a consensus price target of $53.44.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $36.00 on Wednesday. Darling Ingredients Inc. has a twelve month low of $32.55 and a twelve month high of $48.39. 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 company has a market cap of $5.73 billion, a PE ratio of 22.22 and a beta of 1.19. The company’s 50 day moving average is $37.21 and its 200 day moving average is $37.56.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). 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 5.98% and a net margin of 4.42%. The firm’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. On average, sell-side analysts forecast that Darling Ingredients Inc. will post 1.88 EPS for the current year.

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.