Barclays Issues Positive Forecast for International Flavors & Fragrances (NYSE:IFF) Stock Price

Key Points

• Barclays raised its price target for IFF from $96 to $105 and maintained an “overweight” rating, implying approximately 16.6% upside from the stock’s $90.06 price.
• Analyst sentiment is generally positive, with 12 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $93.22.
• IFF recently missed quarterly expectations, reporting $0.82 in EPS versus the $1.07 consensus and revenue of $1.95 billion versus $2.62 billion expected, but authorized a $2.5 billion share-repurchase program.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its price target boosted by stock analysts at Barclays from $96.00 to $105.00 in a report released on Friday, Benzinga reports. The firm currently has an "overweight" rating on the specialty chemicals company's stock. Barclays's price objective points to a potential upside of 16.59% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Zacks Research upgraded International Flavors & Fragrances from a "strong sell" rating to a "hold" rating in a report on Monday, September 21st. UBS Group upped their target price on shares of International Flavors & Fragrances from $84.00 to $91.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Citigroup lowered their price target on shares of International Flavors & Fragrances from $101.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, October 7th. KeyCorp assumed coverage on International Flavors & Fragrances in a research report on Thursday, September 10th. They issued a "sector weight" rating for the company. Finally, Vertical Research cut International Flavors & Fragrances from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a research note on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, International Flavors & Fragrances has an average rating of "Moderate Buy" and a consensus price target of $93.22.

International Flavors & Fragrances Price Performance

IFF stock traded down $0.23 during midday trading on Friday, hitting $90.06. The company's stock had a trading volume of 992,230 shares, compared to its average volume of 1,813,375. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34. International Flavors & Fragrances has a 12 month low of $61.29 and a 12 month high of $91.88. The company has a 50 day moving average of $85.07 and a two-hundred day moving average of $79.10. The firm has a market capitalization of $22.98 billion, a price-to-earnings ratio of 82.64, a price-to-earnings-growth ratio of 3.47 and a beta of 0.91.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.25). International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the business earned $1.15 EPS. The company's quarterly revenue was up 1.8% on a year-over-year basis. On average, analysts expect that International Flavors & Fragrances will post 3.09 EPS for the current year.

International Flavors & Fragrances declared that its board has initiated a share repurchase program on Tuesday, August 4th that permits the company to buy back $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Share buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Deveau sold 8,825 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the sale, the executive vice president directly owned 5,199 shares of the company's stock, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 15,543 shares of company stock worth $1,315,659. Company insiders own 1.07% of the company's stock.

Institutional Investors Weigh In On International Flavors & Fragrances

Several hedge funds have recently modified their holdings of IFF. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in shares of International Flavors & Fragrances by 2.4% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 208,502 shares of the specialty chemicals company's stock valued at $17,406,000 after purchasing an additional 4,890 shares in the last quarter. Curated Wealth Partners LLC purchased a new stake in International Flavors & Fragrances during the third quarter worth $258,000. Fort Washington Investment Advisors Inc. OH lifted its holdings in International Flavors & Fragrances by 0.4% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,444,537 shares of the specialty chemicals company's stock worth $120,590,000 after buying an additional 6,458 shares during the period. ZWJ Investment Counsel Inc. boosted its position in International Flavors & Fragrances by 6.4% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 341,237 shares of the specialty chemicals company's stock valued at $28,486,000 after acquiring an additional 20,486 shares in the last quarter. Finally, Mather Group LLC. boosted its position in International Flavors & Fragrances by 24.0% during the 3rd quarter. Mather Group LLC. now owns 1,393 shares of the specialty chemicals company's stock valued at $116,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc NYSE: IFF develops and manufactures ingredients and solutions used in food, beverages, personal care products, fragrances, household products, pharmaceuticals and other consumer goods. The company works with manufacturers to create flavors, fragrances, functional ingredients and sensory experiences for products sold under consumer brands.

IFF's portfolio includes natural and synthetic flavor compounds, fragrance ingredients, specialty ingredients, food texturants, enzymes, cultures, probiotics and pharmaceutical excipients.

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