Zurcher Kantonalbank Zurich Cantonalbank Sells 15,243 Shares of Darling Ingredients Inc. (NYSE:DAR)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 21.1% in the third quarter, HoldingsChannel reports. The fund owned 57,098 shares of the company’s stock after selling 15,243 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Darling Ingredients were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Glenmede Trust Co. NA lifted its position in Darling Ingredients by 5.7% during the third quarter. Glenmede Trust Co. NA now owns 7,609 shares of the company’s stock valued at $283,000 after purchasing an additional 412 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Darling Ingredients by 52.4% in the third quarter. Townsquare Capital LLC now owns 12,395 shares of the company’s stock worth $461,000 after buying an additional 4,261 shares during the period. FMR LLC lifted its position in shares of Darling Ingredients by 17.3% during the 3rd quarter. FMR LLC now owns 3,324,217 shares of the company’s stock valued at $123,528,000 after buying an additional 491,477 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Darling Ingredients by 127.7% during the 3rd quarter. Bank of Montreal Can now owns 112,252 shares of the company’s stock valued at $4,239,000 after acquiring an additional 62,958 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in Darling Ingredients by 53.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 988,769 shares of the company’s stock worth $36,743,000 after acquiring an additional 342,643 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on DAR shares. JPMorgan Chase & Co. lifted their price target on shares of Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. TD Cowen dropped their target price on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a report on Friday, September 13th. Piper Sandler decreased their price target on Darling Ingredients from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Jefferies Financial Group upped their price objective on Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Darling Ingredients presently has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Darling Ingredients Trading Down 5.7 %

Shares of Darling Ingredients stock opened at $37.47 on Wednesday. Darling Ingredients Inc. has a twelve month low of $32.67 and a twelve month high of $51.36. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $38.96 and a 200-day moving average price of $38.28. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 23.13 and a beta of 1.19.

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