Bank of Montreal Can Increases Stock Position in Darling Ingredients Inc. (NYSE:DAR)

Bank of Montreal Can lifted its stake in Darling Ingredients Inc. (NYSE:DAR) by 127.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 112,252 shares of the company’s stock after purchasing an additional 62,958 shares during the quarter. Bank of Montreal Can’s holdings in Darling Ingredients were worth $4,239,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Algert Global LLC lifted its stake in Darling Ingredients by 266.6% during the third quarter. Algert Global LLC now owns 103,871 shares of the company’s stock worth $3,860,000 after purchasing an additional 75,540 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Darling Ingredients by 23.2% during the 3rd quarter. Natixis Advisors LLC now owns 107,913 shares of the company’s stock valued at $4,010,000 after acquiring an additional 20,323 shares during the period. Jennison Associates LLC grew its position in Darling Ingredients by 4.1% in the 3rd quarter. Jennison Associates LLC now owns 1,093,516 shares of the company’s stock valued at $40,635,000 after acquiring an additional 42,921 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Darling Ingredients by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,366,263 shares of the company’s stock worth $50,210,000 after purchasing an additional 15,414 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Darling Ingredients by 21.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 123,215 shares of the company’s stock worth $4,528,000 after purchasing an additional 22,082 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Darling Ingredients Trading Down 5.7 %

NYSE:DAR opened at $37.47 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.41. Darling Ingredients Inc. has a 1 year low of $32.67 and a 1 year high of $51.36. The stock has a market cap of $5.96 billion, a P/E ratio of 23.13 and a beta of 1.19. The stock has a 50-day simple moving average of $38.96 and a 200-day simple moving average of $38.28.

Darling Ingredients (NYSE:DAR) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.29). Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. As a group, analysts anticipate that Darling Ingredients Inc. will post 1.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DAR has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Darling Ingredients from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on Darling Ingredients from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, October 25th. TD Cowen lowered their target price on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, September 13th. Finally, Piper Sandler reduced their price target on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.44.

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.