Darling Ingredients (NYSE:DAR) Now Covered by Citigroup

Equities research analysts at Citigroup initiated coverage on shares of Darling Ingredients (NYSE:DAR) in a report released on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.

Several other brokerages have also recently weighed in on DAR. Zacks Investment Research raised shares of Darling Ingredients from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Monday, May 24th. Robert W. Baird increased their price target on shares of Darling Ingredients from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Thursday, May 13th. JPMorgan Chase & Co. raised shares of Darling Ingredients from a “neutral” rating to an “overweight” rating and set a $84.00 price target on the stock in a research note on Thursday, March 11th. Credit Suisse Group increased their price target on shares of Darling Ingredients from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, March 4th. Finally, Piper Sandler began coverage on shares of Darling Ingredients in a research note on Tuesday, March 2nd. They set an “overweight” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Darling Ingredients currently has a consensus rating of “Buy” and an average price target of $74.92.

NYSE:DAR opened at $75.09 on Wednesday. Darling Ingredients has a 12-month low of $21.93 and a 12-month high of $79.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.48 and a quick ratio of 0.82. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 34.60 and a beta of 1.06. The business has a 50-day simple moving average of $71.49.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings results on Tuesday, May 11th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.33. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Darling Ingredients had a net margin of 9.64% and a return on equity of 13.67%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Equities research analysts expect that Darling Ingredients will post 2.85 earnings per share for the current fiscal year.

In other news, Director Charles L. Adair bought 500 shares of the business’s stock in a transaction on Thursday, May 20th. The shares were bought at an average cost of $65.84 per share, for a total transaction of $32,920.00. Following the completion of the acquisition, the director now owns 33,734 shares in the company, valued at approximately $2,221,046.56. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.52% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Partners LLC acquired a new stake in shares of Darling Ingredients during the first quarter worth $213,000. Bridgewater Advisors Inc. acquired a new stake in shares of Darling Ingredients during the first quarter worth $3,777,000. One Wealth Advisors LLC raised its holdings in shares of Darling Ingredients by 4.7% during the first quarter. One Wealth Advisors LLC now owns 6,753 shares of the company’s stock worth $497,000 after acquiring an additional 302 shares during the period. Earnest Partners LLC raised its holdings in shares of Darling Ingredients by 3.8% during the first quarter. Earnest Partners LLC now owns 5,815,252 shares of the company’s stock worth $427,886,000 after acquiring an additional 213,568 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Darling Ingredients during the first quarter worth $8,167,000. Institutional investors own 97.68% of the company’s stock.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. 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.

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