International Flavors & Fragrances (NYSE:IFF) Stock Bumped Down to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded IFF from “hold” to “sell,” although broader analyst sentiment remains “Moderate Buy” with a consensus price target of $93.22.
• IFF shares opened at $90.65, near their 12-month high of $91.88, but the company’s latest quarterly results missed expectations, reporting $0.82 in EPS versus $1.07 expected and revenue of $1.95 billion versus $2.62 billion forecast.
• The board authorized a $2.5 billion stock buyback, allowing repurchases of up to 12.1% of outstanding shares; insiders, however, sold 15,543 shares worth about $1.32 million over the prior 90 days.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

IFF has been the topic of a number of other reports. Morgan Stanley lifted their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of International Flavors & Fragrances from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Argus lifted their price objective on International Flavors & Fragrances from $85.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, October 7th. Zacks Research upgraded International Flavors & Fragrances from a "strong sell" rating to a "hold" rating in a report on Monday, September 21st. Finally, UBS Group lifted their price target 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. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.22.

International Flavors & Fragrances Stock Up 0.4%

Shares of NYSE:IFF opened at $90.65 on Friday. International Flavors & Fragrances has a 12-month low of $61.29 and a 12-month high of $91.88. 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 stock's 50-day moving average price is $85.16 and its 200-day moving average price is $79.18. The stock has a market capitalization of $23.13 billion, a P/E ratio of 83.17, a price-to-earnings-growth ratio of 3.50 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 for the quarter, missing analysts' consensus estimates of $1.07 by ($0.25). The company had revenue of $1.95 billion for 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 business's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. On average, equities analysts anticipate that International Flavors & Fragrances will post 3.09 earnings per share for the current year.

International Flavors & Fragrances declared that its board has authorized a stock buyback program on Tuesday, August 4th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to purchase up to 12.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Marc Birenkrant sold 1,000 shares of the firm's 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 completion of the transaction, the chief accounting officer directly owned 3,446 shares of the company's stock, valued at approximately $292,910. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $83.19, for a total value of $475,680.42. The SEC filing for this sale provides additional information. Insiders have 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 currently owned by corporate insiders.

Hedge Funds Weigh In On International Flavors & Fragrances

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

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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