JPMorgan Chase & Co. Boosts Darling Ingredients (NYSE:DAR) Price Target to $59.00

Darling Ingredients (NYSE:DAR) had its target price boosted by JPMorgan Chase & Co. from $58.00 to $59.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

DAR has been the topic of a number of other research reports. Jefferies Financial Group upped their target price on Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 25th. Scotiabank cut their price target on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. TD Cowen lowered their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, September 13th. Finally, Piper Sandler lowered their price target on shares of Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Darling Ingredients currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.60.

Darling Ingredients Trading Up 0.8 %

Shares of Darling Ingredients stock opened at $39.41 on Wednesday. The business has a fifty day simple moving average of $37.61 and a 200-day simple moving average of $38.80. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 24.33 and a beta of 1.24. Darling Ingredients has a fifty-two week low of $32.67 and a fifty-two week high of $51.36. The company has a quick ratio of 0.91, a current ratio of 1.57 and a debt-to-equity ratio of 0.95.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data 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 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 business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. On average, equities analysts forecast that Darling Ingredients will post 1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in shares of 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 buying an additional 554,512 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of 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 purchasing an additional 29,660 shares during the period. Tidal Investments LLC acquired a new stake in Darling Ingredients in the 1st quarter valued at about $1,462,000. Nordea Investment Management AB raised its position in shares of Darling Ingredients by 6.1% in the first quarter. Nordea Investment Management AB now owns 668,413 shares of the company’s stock valued at $31,188,000 after purchasing an additional 38,618 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Darling Ingredients by 42.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 91,863 shares of the company’s stock valued at $4,273,000 after buying an additional 27,243 shares during the last quarter. 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.