Darling Ingredients Inc. (NYSE:DAR) Short Interest Update

Darling Ingredients Inc. (NYSE:DAR) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 9,270,000 shares, a decline of 6.7% from the July 15th total of 9,940,000 shares. Based on an average daily volume of 2,470,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 5.9% of the shares of the stock are short sold.

Analyst Ratings Changes

DAR has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their price target on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, July 26th. Citigroup raised Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Wednesday, June 12th. Stifel Nicolaus reduced their price target 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. Scotiabank lowered their price objective on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, TD Cowen cut their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.30.

Insider Buying and Selling

In other news, EVP Robert W. Day bought 2,532 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were purchased at an average cost of $39.37 per share, with a total value of $99,684.84. Following the acquisition, the executive vice president now directly owns 12,607 shares in the company, valued at $496,337.59. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its position in shares of Darling Ingredients by 893.8% during the second quarter. Quarry LP now owns 2,584 shares of the company’s stock worth $95,000 after buying an additional 2,324 shares during the period. Creative Planning grew its holdings in Darling Ingredients by 9.6% during the 2nd quarter. Creative Planning now owns 18,333 shares of the company’s stock worth $674,000 after acquiring an additional 1,607 shares during the period. Algert Global LLC bought a new position in shares of Darling Ingredients in the 2nd quarter worth about $1,041,000. MidWestOne Financial Group Inc. lifted its stake in shares of Darling Ingredients by 19.7% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 31,185 shares of the company’s stock valued at $1,146,000 after purchasing an additional 5,128 shares during the period. Finally, Scientech Research LLC bought a new stake in shares of Darling Ingredients during the 2nd quarter valued at about $766,000. Institutional investors own 94.44% of the company’s stock.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $39.07 on Wednesday. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 11.70 and a beta of 1.26. The company has a quick ratio of 0.96, a current ratio of 1.67 and a debt-to-equity ratio of 0.93. Darling Ingredients has a twelve month low of $33.94 and a twelve month high of $64.17. The company’s fifty day moving average is $37.21 and its 200 day moving average is $40.98.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Darling Ingredients had a return on equity of 8.35% and a net margin of 6.04%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Darling Ingredients will post 2.47 EPS for the current year.

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.