Short Interest in Darling Ingredients Inc. (NYSE:DAR) Drops By 12.5%

Darling Ingredients Inc. (NYSE:DAR) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 9,860,000 shares, a decline of 12.5% from the November 15th total of 11,270,000 shares. Based on an average trading volume of 2,100,000 shares, the short-interest ratio is currently 4.7 days. Approximately 6.3% of the company’s stock are sold short.

Darling Ingredients Stock Performance

DAR stock traded up $1.42 during midday trading on Tuesday, hitting $35.32. 3,224,511 shares of the company traded hands, compared to its average volume of 2,192,934. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 21.80 and a beta of 1.19. Darling Ingredients has a twelve month low of $32.67 and a twelve month high of $51.12. 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 simple moving average of $38.81 and a 200-day simple moving average of $37.94.

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

Analyst Upgrades and Downgrades

DAR has been the subject of several recent research reports. TD Cowen cut their price objective on Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a report on Friday, September 13th. Jefferies Financial Group upped their target price on Darling Ingredients from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Piper Sandler reduced 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, JPMorgan Chase & Co. boosted their price target on Darling Ingredients from $58.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Two 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.44.

Hedge Funds Weigh In On Darling Ingredients

A number of hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in Darling Ingredients by 5.7% in the third quarter. State Street Corp now owns 5,357,815 shares of the company’s stock worth $199,096,000 after purchasing an additional 289,407 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Darling Ingredients by 52.4% in 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. Earnest Partners LLC raised its holdings in shares of Darling Ingredients by 14.0% in the 2nd quarter. Earnest Partners LLC now owns 3,829,265 shares of the company’s stock worth $140,725,000 after buying an additional 470,170 shares in the last quarter. 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 worth $123,528,000 after buying an additional 491,477 shares during the period. Finally, Geode Capital Management LLC grew its position in Darling Ingredients by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,739,621 shares of the company’s stock valued at $101,830,000 after acquiring an additional 36,618 shares during the period. Institutional investors and hedge funds own 94.44% of the company’s stock.

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.