International Flavors & Fragrances (NYSE:IFF) Raised to Hold at KeyCorp

Key Points

• KeyCorp upgraded International Flavors & Fragrances to “Hold” and projected earnings of $4.05 per share for FY2027 and $4.45 for FY2028. Overall analyst sentiment remains “Moderate Buy,” with an average price target of $91.40.
• IFF’s latest quarter fell short of expectations, reporting $0.82 EPS versus the $1.07 consensus and revenue of $1.95 billion versus $2.62 billion expected. Revenue nevertheless increased 1.8% year over year.
• The company authorized a $2.5 billion share-repurchase program, allowing it to buy back up to 12.1% of outstanding shares; insiders sold 15,543 shares worth about $1.32 million over the past 90 days.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) was upgraded by KeyCorp to a "hold" rating in a research note issued on Thursday, Zacks reports. KeyCorp also issued estimates for International Flavors & Fragrances' FY2027 earnings at $4.05 EPS and FY2028 earnings at $4.45 EPS.

A number of other research analysts also recently commented on IFF. Zacks Research downgraded shares of International Flavors & Fragrances from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 6th. Argus upped their price target on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Benchmark increased their price objective on shares of International Flavors & Fragrances from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of International Flavors & Fragrances from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, June 1st. Finally, Barclays upped their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and an average price target of $91.40.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF opened at $84.03 on Thursday. The firm's 50 day simple moving average is $82.05 and its 200-day simple moving average is $77.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. International Flavors & Fragrances has a one year low of $59.14 and a one year high of $89.32. The firm has a market cap of $21.44 billion, a PE ratio of 77.09, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.25). The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 EPS. As a group, equities analysts predict that International Flavors & Fragrances will post 3.08 EPS for the current year.

International Flavors & Fragrances declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 4th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 12.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other International Flavors & Fragrances news, 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 value of $85,000.00. Following the transaction, the chief accounting officer directly owned 3,446 shares of the company's stock, valued at approximately $292,910. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 in the last 90 days. 1.07% of the stock is owned by corporate insiders.

Institutional Trading of International Flavors & Fragrances

Institutional investors have recently made changes to their positions in the business. Lloyd Advisory Services LLC. purchased a new stake in International Flavors & Fragrances in the fourth quarter valued at about $27,000. Root Financial Partners LLC grew its stake in shares of International Flavors & Fragrances by 97.9% during the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company's stock worth $40,000 after acquiring an additional 274 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. Transamerica Financial Advisors LLC raised its position in shares of International Flavors & Fragrances by 884.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock valued at $50,000 after purchasing an additional 610 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position 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 purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc NYSE: IFF develops and manufactures ingredients, flavor systems, fragrances and related solutions used in consumer and industrial products. Its offerings help customers create or enhance the taste, aroma, texture, appearance and performance of products across the food, beverage, personal care, home care, health and pharmaceutical markets.

IFF's business includes natural and synthetic flavor compounds, fragrance ingredients and compositions, cosmetic and personal-care ingredients, specialty food ingredients, enzymes, cultures, probiotics and other bioscience-based solutions.

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