Darling Ingredients Inc. (NYSE:DAR – Get Rating) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 1,980,000 shares, a growth of 10.6% from the August 31st total of 1,790,000 shares. Based on an average daily trading volume, of 1,390,000 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.3% of the shares of the stock are sold short.
Hedge Funds Weigh In On Darling Ingredients
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB boosted its stake in Darling Ingredients by 1.5% in the first quarter. Nordea Investment Management AB now owns 75,761 shares of the company's stock valued at $6,162,000 after acquiring an additional 1,105 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Darling Ingredients by 10.3% in the first quarter. Coldstream Capital Management Inc. now owns 8,799 shares of the company's stock valued at $707,000 after acquiring an additional 824 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Darling Ingredients in the first quarter valued at approximately $203,000. Riverview Trust Co boosted its stake in Darling Ingredients by 19.4% in the first quarter. Riverview Trust Co now owns 1,400 shares of the company's stock valued at $113,000 after acquiring an additional 227 shares in the last quarter. Finally, Sawtooth Solutions LLC boosted its stake in Darling Ingredients by 106.5% in the second quarter. Sawtooth Solutions LLC now owns 7,257 shares of the company's stock valued at $434,000 after acquiring an additional 3,743 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.
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Analysts Set New Price Targets
A number of analysts recently weighed in on DAR shares. Cowen reduced their price objective on shares of Darling Ingredients to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. Robert W. Baird increased their price objective on shares of Darling Ingredients from $100.00 to $109.00 in a research report on Thursday, August 11th. Raymond James increased their price objective on shares of Darling Ingredients from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 11th. Scotiabank started coverage on shares of Darling Ingredients in a research report on Thursday, September 8th. They issued a "sector outperform" rating and a $101.00 price objective on the stock. Finally, Piper Sandler increased their price objective on shares of Darling Ingredients from $98.00 to $103.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 24th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $98.22.
Darling Ingredients Stock Up 3.0 %
Shares of NYSE DAR traded up $1.97 during midday trading on Monday, reaching $68.12. 9,912 shares of the company's stock traded hands, compared to its average volume of 1,406,719. The company has a quick ratio of 0.96, a current ratio of 1.59 and a debt-to-equity ratio of 0.81. The stock's 50 day simple moving average is $72.97 and its 200-day simple moving average is $73.26. Darling Ingredients has a one year low of $55.71 and a one year high of $87.59. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 15.79 and a beta of 1.23.
Darling Ingredients (NYSE:DAR – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.09). Darling Ingredients had a net margin of 12.56% and a return on equity of 20.34%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. Darling Ingredients's revenue for the quarter was up 37.6% on a year-over-year basis. On average, analysts predict that Darling Ingredients will post 5.34 EPS for the current fiscal year.
Darling Ingredients Company Profile
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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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