BlackRock Fund Advisors has recently announced that it has increased stake in Darling Ingredients Inc. (NYSE:DAR) by 9.48%. After grabbing 13.6 million shares, the institutional investor is now in possession of 1.18 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 8.49% having worth around $860.75 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.84 million to have a control over 5.43 million shares. And BlackRock Investment Management raised its holdings to 1.6 million shares by acquiring 4.49 million shares or 2.80% of the stake.
Darling Ingredients Inc. (DAR) concluded trading on 03/16/23 at a closing price of $53.93, with 2.11 million shares of worth about $113.97 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -28.72% during that period and on Thursday the price saw a loss of about -0.41%. Currently the company’s common shares owned by public are about 160.38M shares, out of which, 158.86M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the DAR stock and their offered price forecasts bring an average price target of $92.36. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $117.00 and could fall to a lowest price of $65.00. The stock’s current price level is 43.15% above of average price target set by the analysts, while a rise to estimated low would result in gain of 17.03% for the stock. However, touching the estimated high of $117.00 would mean a gain of 53.91% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 64 times over the past 12 months. They bought 179,311 shares in 30 of the transactions. In 34 selling transactions, insiders dumped 394,212 shares.
iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Darling Ingredients Inc. iShares Core S&P Mid Cap ETF is currently holding 5.0 million shares of worth totaling $316.5 million. The company recently came buying 11340.0 shares which brought its stake up to 3.12% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 44261.0 shares, after which its hold over company’s outstanding shares expand to 3.07%, leaving 4.91 million shares with the mutual fund that have a worth of about $310.78 million. Vanguard Small Cap Index Fund, after buying 4.15 million shares, have now control over 2.59% of the stake in the company. It holds 22646.0 shares of worth $262.71 million.
Darling Ingredients Inc. (NYSE: DAR) started trading at $53.34, below -$0.81 from concluding price of the previous day. However, the stock later moved at a day high price of 54.39, or with a loss of -0.41%. Stock saw a price change of -11.95% in past 5 days and over the past one month there was a price change of -21.12%. Year-to-date (YTD), DAR shares are showing a performance of -13.84% which decreased to -23.77% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $53.06 but also hit the highest price of $87.59 during that period. The average intraday trading volume for Darling Ingredients Inc. shares is 1.28 million. The stock is currently trading -15.05% below its 20-day simple moving average (SMA20), while that difference is down -16.57% for SMA50 and it goes to -21.99% lower than SMA200.
BlackRock Fund Advisors acquired 13.6 million shares of Darling Ingredients Inc. having value of about $860.75 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 1.18 million shares in the company valued at close to $63560657.61, or have control over 9.48% stake in the company. Darling Ingredients Inc. (NYSE: DAR) currently have 160.38M outstanding shares and institutions hold larger chunk of about 97.40% of that. Holding of mutual funds in the company is about 37.10% while other institutional holders and individual stake holders have control over 61.85% and 21.31% of the stake respectively.
The stock has a current market capitalization of $8.80B and its 3Y-monthly beta is at 1.26. PE ratio of stock for trailing 12 months is 12.00, while it has posted earnings per share of $4.49 in the same period. Its PEG reads 0.28 and has Quick Ratio of 0.90 while making debt-to-equity ratio of 0.89. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DAR, volatility over the week remained 3.90% while standing at 3.14% over the month.
Analysts are in expectations that Darling Ingredients Inc. (DAR) stock would likely to be making an EPS of $1.34 in the current quarter, while forecast for next quarter EPS is $1.4 and it is $6.05 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.25 which is $1.57 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.94 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 15.40% while it is estimated to increase by 12.85% in next year. EPS is likely to shrink at an annualized rate of 42.99% for next 5-years, compared to annual growth of 52.20% made by the stock over the past 5-years.
Analysts at 14 brokerage firms have issued recommendations for the Darling Ingredients Inc. (DAR)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.60. Out of those 14 Wall Street analysts, 11 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stephens on January 17, 2023 offering an Equal-weight rating for the stock and assigned a target price range of between $90 and $75 to it. Coverage by Jefferies stated Darling Ingredients Inc. (DAR) stock as a Buy in their note to investors on October 19, 2022, suggesting a price target of $102 for the stock. Stock get a Market perform rating from Cowen on April 25, 2022.
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