Benchmark Begins Coverage on International Flavors & Fragrances (NYSE:IFF)

Key Points

• Benchmark initiated coverage on International Flavors & Fragrances with a Buy rating and a $100 price target, implying about 32.5% upside from the prior close.
• The company’s latest quarterly results beat expectations, with EPS of $1.25 versus the $1.08 consensus and revenue of $2.74 billion topping estimates, though revenue still fell 3.6% year over year.
• There has been notable insider buying, including Director Paul J. Fribourg purchasing 260,000 shares, while institutional investors continue to hold the vast majority of the stock at 96.02%.

Stock analysts at Benchmark assumed coverage on shares of International Flavors & Fragrances (NYSE:IFF - Get Free Report) in a report released on Tuesday,MarketScreener reports. The brokerage set a "buy" rating and a $100.00 price target on the specialty chemicals company's stock. Benchmark's target price points to a potential upside of 32.50% from the company's previous close.

A number of other research firms also recently commented on IFF. BNP Paribas Exane raised their price objective on shares of International Flavors & Fragrances from $85.00 to $95.00 in a report on Thursday, May 7th. Berenberg Bank increased their price target on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a "hold" rating in a research report on Thursday, May 7th. Rothschild & Co Redburn cut their price target on shares of International Flavors & Fragrances from $74.00 to $71.00 in a research note on Friday, May 8th. Wells Fargo & Company upped their price objective on International Flavors & Fragrances from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. Finally, Citigroup increased their target price on International Flavors & Fragrances from $90.00 to $96.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of "Moderate Buy" and an average price target of $91.05.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF traded up $2.87 during trading on Tuesday, hitting $75.47. 126,729 shares of the stock were exchanged, compared to its average volume of 1,821,714. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49. International Flavors & Fragrances has a 1-year low of $59.14 and a 1-year high of $84.45. The company's fifty day simple moving average is $73.75 and its 200-day simple moving average is $72.08.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.17. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the company posted $1.20 earnings per share. International Flavors & Fragrances's revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that International Flavors & Fragrances will post 4.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg acquired 260,000 shares of the company's stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the acquisition, the director owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This represents a 10.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 415,500 shares of company stock worth $30,276,875 over the last quarter. 1.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Flavors & Fragrances

Several institutional investors have recently bought and sold shares of IFF. Lloyd Advisory Services LLC. acquired a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at $27,000. Root Financial Partners LLC grew its holdings in 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 acquiring an additional 274 shares during the last quarter. Geneos Wealth Management Inc. increased its position in International Flavors & Fragrances by 55.7% in the 1st 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 stake in shares of International Flavors & Fragrances by 884.1% in the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after acquiring an additional 610 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of International Flavors & Fragrances by 42.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 798 shares of the specialty chemicals company's stock worth $54,000 after purchasing an additional 239 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc NYSE: IFF is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF's research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.

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