Darling Ingredients Inc. (NYSE:DAR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI decreased its position in Darling Ingredients Inc. (NYSE:DAR) by 81.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,106 shares of the company’s stock after selling 36,315 shares during the quarter. National Bank of Canada FI’s holdings in Darling Ingredients were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Darling Ingredients by 1.2% during the third quarter. Wellington Management Group LLP now owns 800,983 shares of the company’s stock valued at $29,765,000 after buying an additional 9,442 shares during the period. Southernsun Asset Management LLC boosted its position in shares of Darling Ingredients by 11.6% in the third quarter. Southernsun Asset Management LLC now owns 1,487,458 shares of the company’s stock worth $55,274,000 after acquiring an additional 154,038 shares during the last quarter. State Street Corp grew its holdings in Darling Ingredients by 5.7% in the third quarter. State Street Corp now owns 5,357,815 shares of the company’s stock valued at $199,096,000 after purchasing an additional 289,407 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Darling Ingredients during the 3rd quarter worth $476,000. Finally, Quantinno Capital Management LP increased its stake in Darling Ingredients by 12.2% during the third quarter. Quantinno Capital Management LP now owns 10,797 shares of the company’s stock worth $401,000 after acquiring an additional 1,176 shares during the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DAR. TD Cowen decreased their target price on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a report on Friday, September 13th. JPMorgan Chase & Co. increased their target price on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler decreased their price target on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Jefferies Financial Group boosted their target price on shares of Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.44.

Darling Ingredients Stock Performance

Shares of DAR opened at $35.08 on Monday. The stock has a market capitalization of $5.58 billion, a PE ratio of 21.65 and a beta of 1.19. The business’s fifty day moving average price is $38.88 and its 200 day moving average price is $37.98. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.41 and a quick ratio of 0.83. Darling Ingredients Inc. has a 12-month low of $32.67 and a 12-month high of $51.36.

Darling Ingredients (NYSE:DAR) last posted 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 return on equity of 5.98% and a net margin of 4.42%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. Equities research analysts forecast that Darling Ingredients Inc. will post 1.88 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.