International Flavors & Fragrances (NYSE:IFF) Given New $79.00 Price Target at UBS Group

Key Points

• UBS Group has lowered its price target for International Flavors & Fragrances (IFF) from $83.00 to $79.00, suggesting a potential upside of 20.43% from the previous close.
• The stock has seen a significant drop of 7.1% recently, trading at $65.60 with a reported 12-month low of $63.71.
• Analysts have mixed ratings on the stock, with one sell, one hold, and thirteen buy ratings, resulting in a consensus rating of "Moderate Buy".

International Flavors & Fragrances (NYSE:IFF - Free Report) had its price objective cut by UBS Group from $83.00 to $79.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company's stock.

Several other brokerages also recently weighed in on IFF. Morgan Stanley dropped their price objective on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Barclays raised shares of International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $76.00 to $84.00 in a report on Thursday, May 8th. Tigress Financial assumed coverage on shares of International Flavors & Fragrances in a report on Wednesday, June 4th. They set a "buy" rating and a $105.00 price target on the stock. Robert W. Baird lowered their price objective on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Citigroup raised their target price on shares of International Flavors & Fragrances from $84.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $92.36.

International Flavors & Fragrances Price Performance

IFF stock traded down $0.49 during mid-day trading on Wednesday, hitting $63.74. The stock had a trading volume of 600,725 shares, compared to its average volume of 1,761,739. The firm has a fifty day simple moving average of $74.91 and a 200 day simple moving average of $77.54. The firm has a market capitalization of $16.34 billion, a P/E ratio of -41.11, a P/E/G ratio of 2.93 and a beta of 1.04. The company has a current ratio of 1.86, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. International Flavors & Fragrances has a 52 week low of $63.52 and a 52 week high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $2.69 billion. During the same period last year, the firm posted $1.16 earnings per share. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, research analysts forecast that International Flavors & Fragrances will post 4.32 EPS for the current year.

International Flavors & Fragrances Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, September 29th. International Flavors & Fragrances's dividend payout ratio is presently -103.23%.

Insider Buying and Selling at International Flavors & Fragrances

In related news, EVP Stephen N. Landsman bought 12,000 shares of the business's stock in a transaction on Monday, May 19th. The shares were purchased at an average cost of $77.28 per share, with a total value of $927,360.00. Following the acquisition, the executive vice president owned 12,000 shares of the company's stock, valued at $927,360. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Erik Fyrwald purchased 15,300 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $64.95 per share, with a total value of $993,735.00. Following the purchase, the chief executive officer owned 77,370 shares of the company's stock, valued at approximately $5,025,181.50. This trade represents a 24.65% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 36,650 shares of company stock worth $2,630,447 over the last 90 days. Company insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On International Flavors & Fragrances

A number of institutional investors have recently modified their holdings of the company. Banque Transatlantique SA acquired a new position in International Flavors & Fragrances in the first quarter valued at $32,000. American National Bank & Trust raised its position in shares of International Flavors & Fragrances by 11,975.0% in the 2nd quarter. American National Bank & Trust now owns 483 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 479 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of International Flavors & Fragrances in the 1st quarter valued at about $42,000. Geneos Wealth Management Inc. boosted its position in shares of International Flavors & Fragrances by 55.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company's stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Finally, Eastern Bank grew its stake in International Flavors & Fragrances by 43.9% during the second quarter. Eastern Bank now owns 633 shares of the specialty chemicals company's stock worth $47,000 after purchasing an additional 193 shares during the period. 96.02% of the stock is owned by institutional investors.

About International Flavors & Fragrances

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.