International Flavors & Fragrances (NYSE:IFF) Price Target Lowered to $80.00 at Bank of America

Key Points

• Bank of America has lowered its price target for International Flavors & Fragrances (IFF) from $84.00 to $80.00, maintaining a "buy" rating, suggesting a potential upside of 33.05% from the stock's previous close.
• Recent analyst ratings for IFF vary, with thirteen rating it a "Buy," four a "Hold," and two a "Sell," while the consensus target price sits at $86.07.
• Insider trading activity shows Director Paul J. Fribourg and CEO J Erik Fyrwald both increased their positions significantly, acquiring shares at prices around $64.80 and $64.95, respectively.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its target price reduced by equities researchers at Bank of America from $84.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the specialty chemicals company's stock. Bank of America's target price indicates a potential upside of 33.05% from the stock's previous close.

IFF has been the topic of a number of other research reports. Oppenheimer downgraded International Flavors & Fragrances from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 7th. Wolfe Research upgraded International Flavors & Fragrances from an "underperform" rating to a "peer perform" rating in a research note on Monday, September 8th. Tigress Financial reiterated a "buy" rating and issued a $105.00 price objective on shares of International Flavors & Fragrances in a research note on Tuesday, August 26th. Argus dropped their price objective on International Flavors & Fragrances from $85.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company dropped their price objective on 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. Thirteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.07.

International Flavors & Fragrances Stock Performance

Shares of IFF opened at $60.13 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.12 and a current ratio of 1.86. The stock has a 50 day moving average price of $64.29 and a two-hundred day moving average price of $71.42. The firm has a market capitalization of $15.41 billion, a P/E ratio of -38.79, a P/E/G ratio of 2.58 and a beta of 1.07. International Flavors & Fragrances has a 52 week low of $59.14 and a 52 week high of $106.77.

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

Insiders Place Their Bets

In other news, Director Paul J. Fribourg purchased 15,450 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $64.80 per share, with a total value of $1,001,160.00. Following the completion of the acquisition, the director owned 15,450 shares in the company, valued at $1,001,160. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through 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 purchased at an average cost of $64.95 per share, for a total transaction of $993,735.00. Following the acquisition, 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 own 0.17% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Dodge & Cox increased its holdings in shares of International Flavors & Fragrances by 3.8% in the second quarter. Dodge & Cox now owns 35,047,387 shares of the specialty chemicals company's stock worth $2,577,735,000 after purchasing an additional 1,272,780 shares during the period. Vanguard Group Inc. increased its holdings in shares of International Flavors & Fragrances by 1.6% in the second quarter. Vanguard Group Inc. now owns 30,880,203 shares of the specialty chemicals company's stock worth $2,271,239,000 after purchasing an additional 490,163 shares during the period. State Street Corp increased its holdings in shares of International Flavors & Fragrances by 3.6% in the second quarter. State Street Corp now owns 10,884,974 shares of the specialty chemicals company's stock worth $804,753,000 after purchasing an additional 381,593 shares during the period. Geode Capital Management LLC increased its holdings in shares of International Flavors & Fragrances by 1.9% in the second quarter. Geode Capital Management LLC now owns 6,459,129 shares of the specialty chemicals company's stock worth $473,036,000 after purchasing an additional 123,520 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in International Flavors & Fragrances by 122.1% in the second quarter. First Eagle Investment Management LLC now owns 5,441,094 shares of the specialty chemicals company's stock valued at $400,192,000 after acquiring an additional 2,991,405 shares during the last quarter. Institutional investors own 96.02% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.