Is Buying Stock Like Darling Ingredients Inc. (DAR) After This Bullish Double Top Chart Pattern a Winning Strategy?

December 7, 2017 - By Adrian Mccoy

Investors sentiment decreased to 0.93 in 2017 Q2. Its down 0.10, from 1.03 in 2017Q1. It turned negative, as 31 investors sold Darling Ingredients Inc. shares while 82 reduced holdings. 35 funds opened positions while 70 raised stakes. 153.27 million shares or 0.87% more from 151.95 million shares in 2017Q1 were reported.
Mai Cap holds 0.01% or 13,555 shares. Capstone Asset Management reported 0.02% in Darling Ingredients Inc. (NYSE:DAR). Independent Portfolio Consultants Incorporated has invested 0.37% in Darling Ingredients Inc. (NYSE:DAR). Axa holds 19,000 shares or 0% of its portfolio. Moreover, Advsr Asset Mgmt has 0.01% invested in Darling Ingredients Inc. (NYSE:DAR) for 24,748 shares. Royal Fincl Bank Of Canada holds 2.10 million shares or 0.02% of its portfolio. Bnp Paribas Arbitrage Sa reported 64,534 shares. Rhumbline Advisers holds 334,552 shares or 0.01% of its portfolio. California State Teachers Retirement System holds 0.01% or 290,962 shares in its portfolio. Hussman Strategic Advsr holds 0.02% or 6,000 shares in its portfolio. Wellington Management Gp Limited Liability Partnership has invested 0% of its portfolio in Darling Ingredients Inc. (NYSE:DAR). Louisiana State Employees Retirement System reported 67,100 shares stake. Goldman Sachs Gru reported 0% of its portfolio in Darling Ingredients Inc. (NYSE:DAR). Sg Americas Securities Llc invested in 0% or 19,384 shares. Swiss Commercial Bank holds 0.01% or 275,800 shares in its portfolio.

The chart of Darling Ingredients Inc. (DAR) shows a double top with $18.67 target or 4.00 % above today’s $17.95 share price. The 7 months chart pattern indicates low risk for the $2.96B company. It was reported on Dec, 7 by Finviz.com. If the $18.67 price target is reached, the company will be worth $118.24M more. Double tops are rare but powerful chart patterns.

The stock decreased 1.21% or $0.22 during the last trading session, reaching $17.95. About 649,918 shares traded. Darling Ingredients Inc. (NYSE:DAR) has risen 8.56% since December 7, 2016 and is uptrending. It has underperformed by 8.14% the S&P500.

Analysts await Darling Ingredients Inc. (NYSE:DAR) to report earnings on February, 27. They expect $0.11 earnings per share, down 56.00 % or $0.14 from last year’s $0.25 per share. DAR’s profit will be $18.11 million for 40.80 P/E if the $0.11 EPS becomes a reality. After $0.05 actual earnings per share reported by Darling Ingredients Inc. for the previous quarter, Wall Street now forecasts 120.00 % EPS growth.

Darling Ingredients Inc. (NYSE:DAR) Ratings Coverage

Among 10 analysts covering Darling Ingredients (NYSE:DAR), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Darling Ingredients had 27 analyst reports since August 12, 2015 according to SRatingsIntel. Zacks upgraded Darling Ingredients Inc. (NYSE:DAR) on Thursday, September 3 to “Hold” rating. As per Wednesday, June 29, the company rating was upgraded by Goldman Sachs. The firm has “Buy” rating by Canaccord Genuity given on Sunday, August 6. The firm has “Buy” rating given on Thursday, August 10 by BMO Capital Markets. The stock of Darling Ingredients Inc. (NYSE:DAR) has “Market Outperform” rating given on Friday, April 1 by Avondale. The stock has “Hold” rating by Zacks on Friday, August 21. The stock of Darling Ingredients Inc. (NYSE:DAR) earned “Overweight” rating by JP Morgan on Monday, August 15. The rating was upgraded by JP Morgan to “Overweight” on Thursday, May 26. BMO Capital Markets maintained it with “Buy” rating and $1900 target in Monday, June 26 report. The firm has “Neutral” rating by JP Morgan given on Wednesday, October 28.

More notable recent Darling Ingredients Inc. (NYSE:DAR) news were published by: Prnewswire.com which released: “Darling Ingredients Inc. Reports Third Quarter 2017 Financial Results” on November 07, 2017, also Seekingalpha.com with their article: “Darling Ingredients’ (DAR) CEO Randall Stuewe on Q3 2017 Results – Earnings …” published on November 12, 2017, Moodys.com published: “Moody’s rates Darling’s $525 million Term Loan B facility Ba1; Stable outlook” on December 05, 2017. More interesting news about Darling Ingredients Inc. (NYSE:DAR) were released by: Finance.Yahoo.com and their article: “What Should You Know About Darling Ingredients Inc’s (DAR) Future?” published on November 07, 2017 as well as Nasdaq.com‘s news article titled: “Darling Ingredients is Now Oversold (DAR)” with publication date: November 15, 2017.

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