Earnest Partners LLC purchased a new stake in Darling Ingredients Inc (NYSE:DAR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,984,504 shares of the company’s stock, valued at approximately $69,809,000. Earnest Partners LLC owned about 2.42% of Darling Ingredients at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Integrated Investment Consultants LLC purchased a new stake in Darling Ingredients in the 3rd quarter valued at $168,000. Harrington Investments INC purchased a new position in Darling Ingredients during the 3rd quarter worth $185,000. World Asset Management Inc raised its position in Darling Ingredients by 2.3% during the 2nd quarter. World Asset Management Inc now owns 10,711 shares of the company’s stock worth $169,000 after buying an additional 237 shares during the last quarter. Victory Capital Management Inc. raised its position in Darling Ingredients by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 11,835 shares of the company’s stock worth $186,000 after buying an additional 1,774 shares during the last quarter. Finally, Advisor Group Inc. raised its position in Darling Ingredients by 34.9% during the 3rd quarter. Advisor Group Inc. now owns 11,927 shares of the company’s stock worth $209,000 after buying an additional 3,086 shares during the last quarter. Hedge funds and other institutional investors own 98.06% of the company’s stock.
A number of brokerages have commented on DAR. J P Morgan Chase & Co set a $19.00 price objective on shares of Darling Ingredients and gave the stock a “buy” rating in a research report on Monday, August 14th. Robert W. Baird restated a “buy” rating and set a $20.00 price objective on shares of Darling Ingredients in a research report on Tuesday, September 26th. Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price target on shares of Darling Ingredients in a report on Monday, September 25th. Zacks Investment Research upgraded shares of Darling Ingredients from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, October 11th. Finally, Roth Capital set a $20.00 price target on shares of Darling Ingredients and gave the company a “buy” rating in a report on Tuesday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.33.
Darling Ingredients Inc (NYSE:DAR) opened at $17.80 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. The stock has a market cap of $2,930.00, a PE ratio of 45.64 and a beta of 1.52. Darling Ingredients Inc has a twelve month low of $11.51 and a twelve month high of $18.65.
Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The business had revenue of $937.70 million during the quarter, compared to analyst estimates of $870.50 million. Darling Ingredients had a net margin of 1.76% and a return on equity of 2.96%. Darling Ingredients’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. analysts forecast that Darling Ingredients Inc will post 0.24 earnings per share for the current fiscal year.
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About Darling Ingredients
Darling Ingredients Inc (Darling) is a developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy and fertilizer industries.
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