International Flavors & Fragrances (NYSE:IFF) Hits New 1-Year Low After Analyst Downgrade

Key Points

• International Flavors & Fragrances shares reached a new 52-week low at $62.21 after Morgan Stanley downgraded their price target from $92.00 to $90.00.
• Despite the downgrade, analysts have mixed opinions, with 13 featuring a Buy rating and an average target price of $91.80 for the stock.
• Insider activity includes significant purchases from Director Paul J. Fribourg and CEO J Erik Fyrwald, hinting at confidence in the company’s future despite the current challenges.

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report)'s share price reached a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $92.00 to $90.00. Morgan Stanley currently has an overweight rating on the stock. International Flavors & Fragrances traded as low as $62.30 and last traded at $62.21, with a volume of 1491467 shares. The stock had previously closed at $63.53.

IFF has been the topic of several other reports. Wolfe Research raised shares of International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a report on Monday, September 8th. Oppenheimer cut shares of International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a report on Thursday, August 7th. Wells Fargo & Company decreased their price objective on shares of International Flavors & Fragrances from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Barclays decreased their price objective on shares of International Flavors & Fragrances from $84.00 to $78.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Tigress Financial reissued a "buy" rating and issued a $105.00 price objective on shares of International Flavors & Fragrances in a research note on Tuesday, August 26th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.80.

Insider Activity at International Flavors & Fragrances

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

Hedge Funds Weigh In On International Flavors & Fragrances

Several institutional investors and hedge funds have recently made changes to their positions in IFF. Banque Transatlantique SA bought a new position in shares of International Flavors & Fragrances during the 1st quarter valued at $32,000. American National Bank & Trust grew its holdings in shares of International Flavors & Fragrances by 11,975.0% during the 2nd quarter. American National Bank & Trust now owns 483 shares of the specialty chemicals company's stock valued at $36,000 after purchasing an additional 479 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in International Flavors & Fragrances in the 1st quarter worth $42,000. Elkhorn Partners Limited Partnership grew its holdings in International Flavors & Fragrances by 200.0% in the 2nd quarter. Elkhorn Partners Limited Partnership now owns 600 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 400 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings 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 worth $46,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 96.02% of the company's stock.

International Flavors & Fragrances Stock Performance

The firm has a market cap of $16.03 billion, a P/E ratio of -40.39, a price-to-earnings-growth ratio of 2.75 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39. The business's fifty day simple moving average is $68.25 and its 200-day simple moving average is $73.31.

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

International Flavors & Fragrances Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio (DPR) is -103.23%.

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.