International Flavors & Fragrances (NYSE:IFF) Stock Gets Price Target Increase from JPMorgan Chase & Co.

Key Points

• JPMorgan raised its IFF price target from $92 to $95 and maintained an “overweight” rating, implying about 9.8% upside from the prior close.
• IFF beat quarterly estimates, reporting EPS of $0.83 versus $0.81 expected and revenue of $1.94 billion versus $1.91 billion; revenue rose 3.9% year over year.
• The board authorized a $2.5 billion share repurchase program, covering up to 12.1% of outstanding shares. Analysts’ average rating was “Moderate Buy,” with a consensus target of $94.75.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $92.00 to $95.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the specialty chemicals company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 9.78% from the stock's previous close.

IFF has been the topic of a number of other research reports. Vertical Research lowered International Flavors & Fragrances from a "buy" rating to a "hold" rating and set a $93.00 price objective on the stock. in a report on Thursday, August 6th. UBS Group increased 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. Weiss Ratings raised shares of International Flavors & Fragrances from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Zacks Research raised shares of International Flavors & Fragrances from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 20th. Finally, Oppenheimer boosted their price target on shares of International Flavors & Fragrances from $95.00 to $108.00 and gave the stock an "outperform" rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and a consensus target price of $94.75.

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock traded down $1.13 during mid-day trading on Thursday, reaching $86.54. 3,518,160 shares of the stock traded hands, compared to its average volume of 1,874,557. The stock has a market capitalization of $22.08 billion, a PE ratio of 121.88, a PEG ratio of 3.96 and a beta of 0.86. The business has a 50-day moving average of $87.19 and a 200 day moving average of $78.85. International Flavors & Fragrances has a fifty-two week low of $61.72 and a fifty-two week high of $95.27. 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 (NYSE:IFF - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.02. International Flavors & Fragrances had a return on equity of 6.72% and a net margin of 1.97%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The business's revenue was up 3.9% on a year-over-year basis. On average, analysts predict that International Flavors & Fragrances will post 3.24 EPS for the current year.

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

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, CAO Marc Birenkrant sold 1,000 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the completion of the sale, the chief accounting officer directly owned 3,446 shares of the company's stock, valued at $292,910. This trade represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of International Flavors & Fragrances 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. 1.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On International Flavors & Fragrances

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of International Flavors & Fragrances during the second quarter worth about $1,835,955,000. Nykredit A S purchased a new position in shares of International Flavors & Fragrances during the second quarter worth about $223,065,000. Bank of America Corp DE acquired a new position in International Flavors & Fragrances in the 2nd quarter valued at about $131,760,000. Dimensional Fund Advisors LP increased its position in International Flavors & Fragrances by 8.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,809,090 shares of the specialty chemicals company's stock valued at $131,222,000 after acquiring an additional 147,896 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in International Flavors & Fragrances in the 2nd quarter valued at about $122,792,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc NYSE: IFF develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company's portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.

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