Darling Ingredients Inc. (NYSE:DAR) Sees Significant Drop in Short Interest

Darling Ingredients Inc. (NYSE:DAR) saw a significant decrease in short interest in June. As of June 15th, there was short interest totalling 9,510,000 shares, a decrease of 9.6% from the May 31st total of 10,520,000 shares. Based on an average trading volume of 2,580,000 shares, the short-interest ratio is currently 3.7 days. Currently, 6.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Darling Ingredients

Large investors have recently modified their holdings of the company. Trexquant Investment LP bought a new position in Darling Ingredients in the 3rd quarter valued at $786,000. Treasurer of the State of North Carolina boosted its stake in Darling Ingredients by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 73,850 shares of the company’s stock valued at $3,855,000 after buying an additional 279 shares during the period. Sherbrooke Park Advisers LLC purchased a new position in Darling Ingredients during the third quarter worth about $247,000. United Services Automobile Association increased its stake in Darling Ingredients by 13.5% in the 3rd quarter. United Services Automobile Association now owns 11,535 shares of the company’s stock worth $602,000 after acquiring an additional 1,368 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings in shares of Darling Ingredients by 516.7% in the 3rd quarter. Quadrature Capital Ltd now owns 27,975 shares of the company’s stock valued at $1,460,000 after acquiring an additional 23,439 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors.

Darling Ingredients Stock Performance

DAR stock traded down $0.29 during midday trading on Wednesday, reaching $36.91. 1,200,914 shares of the company’s stock traded hands, compared to its average volume of 2,295,910. The firm has a market capitalization of $5.90 billion, a PE ratio of 11.33 and a beta of 1.26. The company has a 50-day moving average price of $40.21 and a two-hundred day moving average price of $43.16. Darling Ingredients has a 52 week low of $33.94 and a 52 week high of $71.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.96 and a current ratio of 1.67.

Darling Ingredients (NYSE:DAR) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Darling Ingredients had a return on equity of 12.22% and a net margin of 8.46%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. As a group, equities analysts anticipate that Darling Ingredients will post 2.67 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on DAR. JPMorgan Chase & Co. cut their price objective on Darling Ingredients from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Scotiabank reduced their price target on shares of Darling Ingredients from $73.00 to $57.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 11th. TD Cowen lowered their price objective on shares of Darling Ingredients from $51.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. Citigroup upgraded shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, June 12th. Finally, Stifel Nicolaus decreased their price target on shares of Darling Ingredients from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.45.

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.