International Flavors & Fragrances (NYSE:IFF) Price Target Raised to $84.80 at Berenberg Bank

Key Points

• Berenberg Bank raised its price target on International Flavors & Fragrances (IFF) to $84.80 from $83.00 and maintained a "hold" rating, implying roughly a 6.24% upside from the current share price.
• Analyst sentiment is broadly positive with 12 Buys, 4 Holds and 1 Sell, giving IFF a consensus rating of "Moderate Buy" and an average target price of $89.18.
• IFF beat quarterly expectations (EPS $1.25 vs. $1.08 estimate; revenue $2.74B vs. $2.64B) despite shares trading down to $79.82, and Director Paul J. Fribourg bought 142,000 shares, increasing his stake by 6.23%.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its price objective boosted by Berenberg Bank from $83.00 to $84.80 in a note issued to investors on Thursday,MarketScreener reports. The brokerage presently has a "hold" rating on the specialty chemicals company's stock. Berenberg Bank's price objective suggests a potential upside of 6.24% from the stock's current price.

A number of other analysts have also issued reports on IFF. Wells Fargo & Company boosted their price target on International Flavors & Fragrances from $85.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, February 13th. BNP Paribas Exane reduced their price objective on International Flavors & Fragrances from $88.00 to $85.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Citigroup lowered their target price on International Flavors & Fragrances from $100.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft increased their price target on International Flavors & Fragrances from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Finally, Argus lifted their price objective on International Flavors & Fragrances from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.18.

International Flavors & Fragrances Trading Down 3.8%

Shares of NYSE IFF traded down $3.11 during mid-day trading on Thursday, reaching $79.82. The company had a trading volume of 118,054 shares, compared to its average volume of 1,734,937. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.91 and a beta of 0.93. International Flavors & Fragrances has a 52 week low of $59.14 and a 52 week high of $84.45. The business's 50-day moving average is $72.79 and its 200-day moving average is $70.28. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.64 billion. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.63%. The firm's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. Equities analysts expect that International Flavors & Fragrances will post 4.42 earnings per share for the current year.

Insider Activity

In other news, Director Paul J. Fribourg purchased 142,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $70.13 per share, with a total value of $9,958,460.00. Following the completion of the acquisition, the director owned 2,422,730 shares of the company's stock, valued at approximately $169,906,054.90. This represents a 6.23% increase in their position. The transaction 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 Investors Weigh In On International Flavors & Fragrances

A number of institutional investors have recently modified their holdings of the business. Invesco Ltd. grew its holdings in International Flavors & Fragrances by 131.3% in the third quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company's stock valued at $441,068,000 after purchasing an additional 4,069,075 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in International Flavors & Fragrances in the 4th quarter valued at $211,703,000. Ameriprise Financial Inc. increased its holdings in International Flavors & Fragrances by 1,842.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company's stock worth $183,264,000 after acquiring an additional 2,363,307 shares in the last quarter. Dodge & Cox raised its position in International Flavors & Fragrances by 5.5% during the third quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company's stock worth $2,275,296,000 after acquiring an additional 1,925,251 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in International Flavors & Fragrances by 27.5% during the fourth quarter. First Eagle Investment Management LLC now owns 8,831,668 shares of the specialty chemicals company's stock valued at $595,166,000 after purchasing an additional 1,904,598 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.