Summit Investment Advisors Inc. Sells 769 Shares of Darling Ingredients Inc. (NYSE:DAR)

Summit Investment Advisors Inc. decreased its stake in Darling Ingredients Inc. (NYSE:DAR) by 1.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 52,257 shares of the company’s stock after selling 769 shares during the period. Summit Investment Advisors Inc.’s holdings in Darling Ingredients were worth $1,761,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bragg Financial Advisors Inc boosted its position in Darling Ingredients by 18.4% during the fourth quarter. Bragg Financial Advisors Inc now owns 320,065 shares of the company’s stock valued at $10,783,000 after acquiring an additional 49,790 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Darling Ingredients by 49.2% in the 4th quarter. Sterling Capital Management LLC now owns 10,267 shares of the company’s stock valued at $346,000 after acquiring an additional 3,386 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Darling Ingredients by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 69,709 shares of the company’s stock worth $2,348,000 after acquiring an additional 440 shares in the last quarter. Bank of Montreal Can increased its stake in Darling Ingredients by 40.2% in the fourth quarter. Bank of Montreal Can now owns 157,327 shares of the company’s stock valued at $5,300,000 after purchasing an additional 45,075 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Darling Ingredients by 17.9% during the fourth quarter. FMR LLC now owns 3,919,542 shares of the company’s stock valued at $132,049,000 after purchasing an additional 595,325 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DAR. StockNews.com downgraded Darling Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday, April 2nd. Citigroup reduced their price objective on Darling Ingredients from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday. Stephens reaffirmed an “overweight” rating and set a $52.00 target price on shares of Darling Ingredients in a research report on Thursday, January 23rd. Robert W. Baird reduced their price target on shares of Darling Ingredients from $51.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, TD Cowen lowered their price objective on shares of Darling Ingredients from $43.00 to $37.00 and set a “hold” rating on the stock in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Darling Ingredients presently has an average rating of “Moderate Buy” and an average target price of $50.78.

Darling Ingredients Price Performance

Shares of NYSE:DAR opened at $29.52 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.67 billion, a PE ratio of 17.07 and a beta of 1.19. The stock’s fifty day simple moving average is $33.30 and its two-hundred day simple moving average is $35.84. Darling Ingredients Inc. has a 1-year low of $26.00 and a 1-year high of $47.28.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Darling Ingredients had a net margin of 4.88% and a return on equity of 6.04%. As a group, analysts forecast that Darling Ingredients Inc. will post 2.81 EPS for the current fiscal 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.