International Flavors & Fragrances (NYSE:IFF) Price Target Lowered to $88.00 at Oppenheimer

Key Points

• Oppenheimer cut its price target for IFF from $97 to $88 but maintained an outperform rating, implying roughly a 22% upside from the current share price.
• IFF's latest quarter missed EPS estimates ($0.80 vs. $0.85) with revenue down 6.6% year-over-year and a negative net margin of 3.2%, while director Paul J. Fribourg purchased 142,000 shares (~$9.96M), indicating insider confidence.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its target price cut by investment analysts at Oppenheimer from $97.00 to $88.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the specialty chemicals company's stock. Oppenheimer's target price would indicate a potential upside of 21.97% from the stock's current price.

Other research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of International Flavors & Fragrances from a "sell" rating to a "hold" rating in a research report on Sunday, January 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of International Flavors & Fragrances from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Barclays reduced their price target on shares of International Flavors & Fragrances from $91.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings restated a "sell (d-)" rating on shares of International Flavors & Fragrances in a research report on Monday, December 29th. Finally, Bank of America raised their price target on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, January 8th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Flavors & Fragrances presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.50.

International Flavors & Fragrances Stock Down 0.4%

NYSE IFF traded down $0.27 during trading hours on Wednesday, reaching $72.15. 70,069 shares of the company traded hands, compared to its average volume of 1,742,683. International Flavors & Fragrances has a 12 month low of $59.14 and a 12 month high of $84.45. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $18.43 billion, a PE ratio of -52.55, a PEG ratio of 1.95 and a beta of 1.02. The company has a 50 day moving average of $74.55 and a two-hundred day moving average of $69.58.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The specialty chemicals company reported $0.80 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the company earned $0.97 earnings per share. The company's revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that International Flavors & Fragrances will post 4.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Paul J. Fribourg acquired 142,000 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $70.13 per share, for a total transaction of $9,958,460.00. Following the transaction, the director directly owned 2,422,730 shares in the company, valued at $169,906,054.90. This trade represents a 6.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.07% of the stock is currently owned by corporate insiders.

Institutional Trading of International Flavors & Fragrances

Several hedge funds have recently bought and sold shares of IFF. Lloyd Advisory Services LLC. acquired a new position in shares of International Flavors & Fragrances in the 4th quarter worth approximately $27,000. True Wealth Design LLC grew its stake in shares of International Flavors & Fragrances by 896.4% in the 3rd quarter. True Wealth Design LLC now owns 548 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 493 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of 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 purchasing an additional 210 shares during the last quarter. Transamerica Financial Advisors LLC grew its stake in shares of International Flavors & Fragrances by 884.1% in the 2nd 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 last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of International Flavors & Fragrances by 42.8% in 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. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Company Profile

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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