International Flavors & Fragrances (NYSE:IFF) Price Target Raised to $95.00

Key Points

• Argus raised IFF’s price target to $95 from $85 and maintained a “buy” rating, implying approximately 13.1% upside from the prior close.
• Analyst sentiment is generally positive, with 12 “buy” ratings and seven “hold” ratings, producing a “Moderate Buy” consensus and an average price target of $91.99.
• IFF’s latest quarterly results missed expectations, reporting $0.82 in adjusted EPS versus $1.07 expected and $1.95 billion in revenue versus $2.62 billion forecast; however, the company authorized a $2.5 billion share buyback.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its price objective boosted by equities research analysts at Argus from $85.00 to $95.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the specialty chemicals company's stock. Argus' target price would indicate a potential upside of 13.11% from the stock's previous close.

IFF has been the topic of a number of other reports. Benchmark boosted their price target on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, August 6th. KeyCorp started coverage on International Flavors & Fragrances in a report on Thursday, September 10th. They set a "sector weight" rating on the stock. Vertical Research cut International Flavors & Fragrances from a "buy" rating to a "hold" rating and set a $93.00 target price for the company. in a research note on Thursday, August 6th. Weiss Ratings lowered International Flavors & Fragrances from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 17th. Finally, Wall Street Zen raised shares of International Flavors & Fragrances from a "sell" rating to a "hold" rating in a research report on Saturday, September 19th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and an average price target of $91.99.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $83.99 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $21.43 billion, a P/E ratio of 77.06, a PEG ratio of 3.24 and a beta of 0.91. The business has a 50-day moving average of $84.39 and a 200-day moving average of $78.24. International Flavors & Fragrances has a 1 year low of $59.14 and a 1 year high of $89.32.

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 for the quarter, missing the consensus estimate of $1.07 by ($0.25). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.62 billion. International Flavors & Fragrances had a return on equity of 7.11% and a net margin of 2.78%.The firm's revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 EPS. On average, equities analysts anticipate that International Flavors & Fragrances will post 3.08 EPS for the current year.

International Flavors & Fragrances announced that its board has initiated a share buyback plan on Tuesday, August 4th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at International Flavors & Fragrances

In related news, EVP Michael Deveau sold 8,825 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total transaction of $754,978.75. Following the completion of the transaction, the executive vice president owned 5,199 shares in the company, valued at approximately $444,774.45. This represents a 62.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Marc Birenkrant sold 1,000 shares of International Flavors & Fragrances stock in a transaction on Friday, August 7th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the sale, the chief accounting officer owned 3,446 shares in the company, valued at $292,910. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,543 shares of company stock valued at $1,315,659 over the last 90 days. 1.07% of the stock is owned by corporate insiders.

Institutional Trading of International Flavors & Fragrances

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC increased its position in shares of International Flavors & Fragrances by 97.9% during the 1st quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company's stock worth $40,000 after purchasing an additional 274 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of International Flavors & Fragrances by 27.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 706 shares of the specialty chemicals company's stock valued at $56,000 after buying an additional 154 shares during the last quarter. Westpac Banking Corp bought a new position in shares of International Flavors & Fragrances in the second quarter valued at $91,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in International Flavors & Fragrances during the second quarter worth $148,000. Finally, Global Retirement Partners LLC acquired a new position in shares of International Flavors & Fragrances during the 2nd quarter worth about $157,000. Institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Company Profile

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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