Tuesday, May 17, 2011

Darling International Inc. (DAR) Upgraded by Morgan Joseph to “Buy” May 17th, 2011

Equities research analysts at Morgan Joseph upgraded shares of Darling International Inc. (NYSE: DAR) from a “hold” rating to a “buy” rating in a research note to investors on Monday. The analysts currently have a $21.00 price target on the stock.

Separately, analysts at Zacks Investment Research reiterated an “outperform” rating on shares of Darling International Inc. in a research note to investors on Thursday, May 12nd.

Shares of Darling International Inc. traded down 1.14% during mid-day trading on Tuesday, hitting $17.38. Darling International Inc. has a 52 week low of $7.00 and a 52 week high of $18.09. The stock’s 50-day moving average is $15.55 and its 200-day moving average is $13.69. The company has a market cap of $2.033 billion and a price-to-earnings ratio of 19.89.

Darling International Inc. last announced its quarterly results on Thursday, May 12nd. The company reported $0.43 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.29 EPS by $0.14. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 170.40% on a year-over-year basis. On average, analysts predict that Darling International Inc. will post $0.29 EPS next quarter.

Darling International Inc. (Darling) provides rendering, recycling and recovery solutions to the United States food industry. It operates through two segments: Rendering, the core business of turning inedible food by-products from meat and poultry processors into feed ingredients and fats for other industrial applications, and Restaurant Services, a group focused on growing the grease collection business and grease collection equipment sales while expanding the line of services, which includes grease trap servicing, and the National Service Center (NSC), offered to food service establishments and food processors. The NSC schedules services, such as fat and bone and used cooking oil collection, as well as trap cleaning for contracted customers. On February 23, 2009, it acquired Boca Industries, Inc. On December 31, 2009, it acquired certain rendering, grease collection and trap servicing business assets from Sanimax USA Inc. In June 2010, the Company acquired Nebraska By-Products, Inc.