Darling Ingredients (NYSE:DAR) Sets New 52-Week High – Here’s What Happened

Darling Ingredients Inc. (NYSE:DAR) shares hit a new 52-week high during trading on Friday . The company traded as high as $66.74 and last traded at $67.57, with a volume of 90529 shares traded. The stock had previously closed at $65.74.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Scotiabank raised their price objective on Darling Ingredients from $61.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised Darling Ingredients from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. TD Cowen increased their target price on Darling Ingredients from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Barclays raised their price target on Darling Ingredients from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, Zacks Research lowered Darling Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Darling Ingredients Trading Up 2.7%

The stock has a 50-day simple moving average of $58.78 and a two-hundred day simple moving average of $57.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 3.89. The firm has a market cap of $10.65 billion, a PE ratio of 18.14 and a beta of 1.02.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 13.23%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm posted $0.08 EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Insider Buying and Selling

In related news, EVP Nicholas James Kemphaus sold 1,591 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $63.05, for a total value of $100,312.55. Following the sale, the executive vice president owned 35,087 shares in the company, valued at approximately $2,212,235.35. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles L. Adair bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $60.97 per share, for a total transaction of $60,970.00. Following the acquisition, the director directly owned 51,690 shares of the company’s stock, valued at $3,151,539.30. The trade was a 1.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Darling Ingredients

Hedge funds have recently bought and sold shares of the company. SJS Investment Consulting Inc. boosted its position in Darling Ingredients by 69.9% in the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 174 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its position in shares of Darling Ingredients by 2.6% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 7,625 shares of the company’s stock valued at $472,000 after purchasing an additional 196 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Darling Ingredients by 2.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,776 shares of the company’s stock valued at $481,000 after purchasing an additional 220 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Darling Ingredients by 3.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,701 shares of the company’s stock worth $277,000 after purchasing an additional 267 shares during the period. Finally, Basecamp Wealth Advisors LLC boosted its holdings in shares of Darling Ingredients by 35.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company’s stock worth $64,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

About Darling Ingredients

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.