International Flavors & Fragrances Inc. (NYSE:IFF) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on IFF, with 12 buy ratings and seven holds among 19 brokerages. The average 12-month price target is $91.40.
• IFF reported quarterly EPS of $0.82, missing the $1.07 consensus estimate, while revenue of $1.95 billion also fell short of the $2.62 billion forecast.
• The company declared a quarterly dividend of $0.40 per share, equivalent to a 1.9% yield, and authorized a $2.5 billion share-repurchase program covering up to 12.1% of outstanding shares.

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) has been given an average rating of "Moderate Buy" by the nineteen brokerages that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $91.40.

Several research firms have recently weighed in on IFF. Zacks Research raised shares of International Flavors & Fragrances from a "strong sell" rating to a "hold" rating in a report on Monday, September 21st. Morgan Stanley lifted their price objective on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Argus boosted their target price on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Weiss Ratings lowered International Flavors & Fragrances from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 17th. Finally, UBS Group raised their price target on International Flavors & Fragrances from $84.00 to $91.00 and gave the company a "neutral" rating in a report on Thursday, August 6th.

International Flavors & Fragrances Stock Down 0.6%

IFF stock opened at $85.23 on Wednesday. The stock has a 50-day simple moving average of $83.71 and a two-hundred day simple moving average of $77.76. International Flavors & Fragrances has a twelve month low of $59.14 and a twelve month high of $89.32. The firm has a market capitalization of $21.75 billion, a PE ratio of 78.19, a PEG ratio of 3.33 and a beta of 0.94. 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 released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $0.82 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 the consensus estimate of $2.62 billion. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. International Flavors & Fragrances's revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 earnings per share. On average, equities analysts predict that International Flavors & Fragrances will post 3.08 EPS for the current fiscal year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, September 18th. International Flavors & Fragrances's dividend payout ratio is 146.79%.

International Flavors & Fragrances announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 4th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 12.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at International Flavors & Fragrances

In other 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 transaction 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 approximately $292,910. The trade was a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $475,680.42. The SEC filing for this sale provides additional information. Insiders sold a total of 15,543 shares of company stock worth $1,315,659 over the last three months. 1.07% of the stock is owned by insiders.

Institutional Investors Weigh In On International Flavors & Fragrances

Hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its position in shares of International Flavors & Fragrances by 815.7% during the 2nd quarter. QRG Capital Management Inc. now owns 35,485 shares of the specialty chemicals company's stock valued at $2,811,000 after purchasing an additional 31,610 shares during the last quarter. Andra AP fonden bought a new stake in International Flavors & Fragrances in the 2nd quarter worth approximately $1,410,000. Sequoia Financial Advisors LLC lifted its position in International Flavors & Fragrances by 20.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,416 shares of the specialty chemicals company's stock worth $587,000 after buying an additional 1,256 shares during the last quarter. Tidal Investments LLC boosted its stake in International Flavors & Fragrances by 11.4% in the second quarter. Tidal Investments LLC now owns 132,832 shares of the specialty chemicals company's stock worth $10,523,000 after buying an additional 13,605 shares in the last quarter. Finally, Cidel Asset Management Inc. bought a new position in International Flavors & Fragrances during the second quarter valued at approximately $234,000. Institutional investors own 96.02% of the company's stock.

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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