Darling Ingredients (NYSE:DAR) Shares Gap Up – Time to Buy?

Darling Ingredients Inc. (NYSE:DAR)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $34.73, but opened at $36.61. Darling Ingredients shares last traded at $36.34, with a volume of 236,761 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DAR. JPMorgan Chase & Co. upped their price objective on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and set a $52.00 price target on shares of Darling Ingredients in a research report on Thursday, January 23rd. Citigroup decreased their price objective on Darling Ingredients from $46.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler dropped their price objective on shares of 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 increased 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.22.

Darling Ingredients Price Performance

The business’s 50-day moving average price is $35.82 and its 200 day moving average price is $37.48. The company has a market capitalization of $5.97 billion, a P/E ratio of 23.15 and a beta of 1.21. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.89.

Hedge Funds Weigh In On Darling Ingredients

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DAR. Assenagon Asset Management S.A. raised its stake in shares of Darling Ingredients by 203.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,844,297 shares of the company’s stock worth $62,134,000 after acquiring an additional 1,235,985 shares in the last quarter. Paloma Partners Management Co raised its holdings in Darling Ingredients by 2,140.4% during the 3rd quarter. Paloma Partners Management Co now owns 877,200 shares of the company’s stock valued at $32,597,000 after buying an additional 838,047 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Darling Ingredients during the 3rd quarter valued at $30,545,000. ING Groep NV grew its holdings in Darling Ingredients by 244.1% in the 3rd quarter. ING Groep NV now owns 810,100 shares of the company’s stock worth $30,103,000 after acquiring an additional 574,700 shares during the last quarter. Finally, FMR LLC increased its position in shares of Darling Ingredients by 17.3% in the third quarter. FMR LLC now owns 3,324,217 shares of the company’s stock valued at $123,528,000 after acquiring an additional 491,477 shares during the period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

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.