Canaccord Genuity Maintains a 'Hold' on Darling International (DAR); Q3 First Look: Feedstock Degradation is a Dead Weight
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Price: $65.74 -3.1%
Rating Summary:
22 Buy, 6 Hold, 0 Sell
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Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
22 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Canaccord Genuity maintains a 'Hold' on Darling International (NYSE: DAR).
Canaccord analyst, John Quealy, said, "We maintain our rating ahead of the Q3 call as operational strength was masked by feedstock degradation attributable to summer heat and falling finished prices...Relatively flat volumes in rendering q/q and a seasonal uptick in bakery were more than offset by the downgrade of finished fats and protein. Additionally, elevated deadstock loss resulted in higher processing costs. Gross margins of 28.3% (-260bps q/q) fell short of our 30.7% expectation, while SG&A expense was ~$2M higher than our model."
For an analyst ratings summary and ratings history on Darling International click here. For more ratings news on Darling International click here.
Shares of Darling International closed at $13.21 yesterday.
Canaccord analyst, John Quealy, said, "We maintain our rating ahead of the Q3 call as operational strength was masked by feedstock degradation attributable to summer heat and falling finished prices...Relatively flat volumes in rendering q/q and a seasonal uptick in bakery were more than offset by the downgrade of finished fats and protein. Additionally, elevated deadstock loss resulted in higher processing costs. Gross margins of 28.3% (-260bps q/q) fell short of our 30.7% expectation, while SG&A expense was ~$2M higher than our model."
For an analyst ratings summary and ratings history on Darling International click here. For more ratings news on Darling International click here.
Shares of Darling International closed at $13.21 yesterday.
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