International Flavors & Fragrances (NYSE:IFF) Given New $85.00 Price Target at Argus

Key Points

• Argus raised its price target on International Flavors & Fragrances to $85 from $80 and kept a buy rating, implying about 11% upside from the prior close.
• Other analysts were mixed but generally constructive: Jefferies, Barclays, and Citigroup also updated targets, and the stock now has an average analyst rating of Moderate Buy with a $90.87 average price target.
• The company recently beat quarterly earnings expectations, reporting $1.25 EPS versus $1.08 expected and revenue of $2.74 billion versus $2.64 billion expected, while director Paul J. Fribourg made a large insider purchase of 260,000 shares.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its target price boosted by investment analysts at Argus from $80.00 to $85.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the specialty chemicals company's stock. Argus' target price would suggest a potential upside of 11.19% from the stock's previous close.

A number of other brokerages also recently weighed in on IFF. Jefferies Financial Group boosted their target price on shares of International Flavors & Fragrances from $97.00 to $105.00 in a report on Thursday, May 7th. Weiss Ratings upgraded shares of International Flavors & Fragrances from a "sell (d)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Citigroup decreased their price objective on shares of International Flavors & Fragrances from $96.00 to $88.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Berenberg Bank upped their target price on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the company a "hold" rating in a report on Thursday, May 7th. Finally, Barclays raised their target price on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $90.87.

International Flavors & Fragrances Stock Performance

Shares of NYSE IFF opened at $76.45 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.49. The stock has a 50 day moving average price of $75.05 and a 200 day moving average price of $73.02. The stock has a market capitalization of $19.52 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.77 and a beta of 0.94. International Flavors & Fragrances has a 52 week low of $59.14 and a 52 week high of $84.45.

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

Insider Buying and Selling

In related news, Director Paul J. Fribourg acquired 260,000 shares of the firm's stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the completion of the acquisition, the director directly owned 2,682,730 shares in the company, valued at approximately $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lloyd Advisory Services LLC. acquired a new stake in International Flavors & Fragrances during the fourth quarter worth approximately $27,000. Root Financial Partners LLC grew its position in shares of International Flavors & Fragrances by 97.9% in the first quarter. Root Financial Partners LLC now owns 554 shares of the specialty chemicals company's stock valued at $40,000 after purchasing an additional 274 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of International Flavors & Fragrances by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock worth $46,000 after purchasing an additional 210 shares during the period. Transamerica Financial Advisors LLC increased its stake in shares of International Flavors & Fragrances by 884.1% during the second quarter. Transamerica Financial Advisors LLC now owns 679 shares of the specialty chemicals company's stock worth $50,000 after purchasing an additional 610 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in International Flavors & Fragrances by 42.8% during the 4th 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 during the last quarter. Institutional investors and hedge funds 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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