Sycomore Asset Management Grows Stake in Darling Ingredients Inc. (NYSE:DAR)

Sycomore Asset Management raised its stake in Darling Ingredients Inc. (NYSE:DAR) by 282.6% during the third quarter, HoldingsChannel reports. The fund owned 64,652 shares of the company’s stock after buying an additional 47,753 shares during the period. Sycomore Asset Management’s holdings in Darling Ingredients were worth $2,357,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DAR. Dimensional Fund Advisors LP raised its stake in Darling Ingredients by 52.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,236,616 shares of the company’s stock valued at $192,445,000 after purchasing an additional 1,800,809 shares during the period. ING Groep NV boosted its holdings in Darling Ingredients by 244.1% during the 3rd quarter. ING Groep NV now owns 810,100 shares of the company’s stock valued at $30,103,000 after acquiring an additional 574,700 shares during the period. Earnest Partners LLC boosted its holdings in Darling Ingredients by 14.0% during the 2nd quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock valued at $140,725,000 after acquiring an additional 470,170 shares during the period. Canada Pension Plan Investment Board bought a new stake in Darling Ingredients during the 2nd quarter valued at $15,406,000. Finally, Toronto Dominion Bank raised its position in Darling Ingredients by 942.1% during the 1st quarter. Toronto Dominion Bank now owns 392,165 shares of the company’s stock valued at $18,240,000 after purchasing an additional 354,532 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Darling Ingredients Stock Performance

Darling Ingredients stock traded down $0.65 during midday trading on Thursday, hitting $41.35. 190,151 shares of the company were exchanged, compared to its average volume of 2,151,145. The firm has a market capitalization of $6.58 billion, a PE ratio of 25.93 and a beta of 1.23. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $51.36. The business has a fifty day simple moving average of $37.59 and a two-hundred day simple moving average of $38.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.83 and a current ratio of 1.41.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.29). Darling Ingredients had a net margin of 4.42% and a return on equity of 5.98%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, sell-side analysts forecast that Darling Ingredients Inc. will post 1.88 earnings per share for the current year.

Darling Ingredients Company Profile

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.