Berenberg Bank Cuts International Flavors & Fragrances (NYSE:IFF) Price Target to $78.30

Key Points

• Berenberg Bank has lowered its price target for International Flavors & Fragrances (NYSE:IFF) from $78.80 to $78.30, maintaining a "hold" rating on the stock.
• Despite the recent downgrade, the new target price suggests a potential upside of 30.25% from the company's current trading price.
• Thirteen research analysts rate the stock as a Buy, with an average price target of $90.96, indicating a consensus on its future growth potential.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its target price lowered by equities researchers at Berenberg Bank from $78.80 to $78.30 in a report released on Monday,MarketScreener reports. The firm currently has a "hold" rating on the specialty chemicals company's stock. Berenberg Bank's target price would indicate a potential upside of 30.25% from the company's current price.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley reduced their target price on International Flavors & Fragrances from $92.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, September 22nd. BNP Paribas Exane dropped their price target on International Flavors & Fragrances from $96.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, September 11th. Wolfe Research raised International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research report on Monday, September 8th. Oppenheimer lowered International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 7th. Finally, UBS Group dropped their price target on International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $90.96.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock opened at $60.12 on Monday. The business's 50-day simple moving average is $67.19 and its 200 day simple moving average is $72.80. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of -38.76, a P/E/G ratio of 2.63 and a beta of 1.07. International Flavors & Fragrances has a 12-month low of $60.08 and a 12-month high of $106.77. The company has a quick ratio of 1.12, a current ratio of 1.86 and a debt-to-equity ratio of 0.39.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.04. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.69 billion. International Flavors & Fragrances had a positive return on equity of 7.95% and a negative net margin of 3.48%.The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 earnings per share. International Flavors & Fragrances has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that International Flavors & Fragrances will post 4.32 earnings per share for the current year.

Insider Buying and Selling at International Flavors & Fragrances

In other news, CEO J Erik Fyrwald purchased 15,300 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average cost of $64.95 per share, for a total transaction of $993,735.00. Following the purchase, the chief executive officer directly owned 77,370 shares of the company's stock, valued at $5,025,181.50. This trade represents a 24.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Fribourg purchased 15,450 shares of International Flavors & Fragrances stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the completion of the purchase, the director directly owned 15,450 shares in the company, valued at $1,001,160. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company's stock.

Hedge Funds Weigh In On International Flavors & Fragrances

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IFF. Charles Schwab Investment Management Inc. raised its holdings in shares of International Flavors & Fragrances by 2.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,577,723 shares of the specialty chemicals company's stock worth $122,447,000 after buying an additional 32,005 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in International Flavors & Fragrances by 11.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock worth $6,525,000 after purchasing an additional 8,490 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in International Flavors & Fragrances in the 1st quarter worth about $1,271,000. Dodge & Cox increased its holdings in International Flavors & Fragrances by 7.4% in the 1st quarter. Dodge & Cox now owns 33,774,607 shares of the specialty chemicals company's stock worth $2,621,247,000 after purchasing an additional 2,336,844 shares in the last quarter. Finally, Chicago Capital LLC acquired a new position in International Flavors & Fragrances in the 1st quarter worth about $688,000. 96.02% of the stock is owned by institutional investors and hedge funds.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division.

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