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

Darling Ingredients (NYSE:DAR) had its price objective decreased by equities researchers at Scotiabank from $57.00 to $45.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 18.42% from the stock’s previous close.

A number of other research firms have also weighed in on DAR. Stifel Nicolaus decreased their target price on shares of Darling Ingredients from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. TD Cowen reduced their price target on shares of Darling Ingredients from $51.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. 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. Finally, Citigroup raised shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.36.

Darling Ingredients Stock Performance

NYSE DAR opened at $38.00 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.67 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $39.17 and its 200-day simple moving average is $42.49. The company has a market cap of $6.07 billion, a PE ratio of 11.38 and a beta of 1.26. Darling Ingredients has a 1-year low of $33.94 and a 1-year high of $71.60.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Darling Ingredients had a net margin of 8.46% and a return on equity of 12.22%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. As a group, equities research analysts anticipate that Darling Ingredients will post 2.65 EPS for the current fiscal year.

Institutional Trading of Darling Ingredients

A number of large investors have recently made changes to their positions in DAR. Norges Bank acquired a new position in shares of Darling Ingredients in the 4th quarter valued at $94,650,000. Balyasny Asset Management L.P. purchased a new stake in Darling Ingredients during the 4th quarter valued at approximately $92,661,000. Gates Capital Management Inc. acquired a new stake in Darling Ingredients during the 4th quarter worth approximately $88,885,000. Bank of New York Mellon Corp increased its holdings in shares of Darling Ingredients by 24.9% in the first quarter. Bank of New York Mellon Corp now owns 4,279,247 shares of the company’s stock valued at $199,028,000 after purchasing an additional 851,886 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Darling Ingredients by 55.0% during the first quarter. Jennison Associates LLC now owns 1,562,739 shares of the company’s stock worth $72,683,000 after purchasing an additional 554,512 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

About Darling Ingredients

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.