International Flavors & Fragrances (NYSE:IFF) Stock Rating Lowered by Oppenheimer

Key Points

• Oppenheimer downgraded International Flavors & Fragrances' stock rating from "outperform" to "market perform," indicating a shift in analyst sentiment towards the company.
• Several research firms have lowered their price targets for IFF, with the average target now at $93.14, reflecting a decline in overall market expectations.
• The stock has recently traded down by 6.3% and currently has a market cap of $16.93 billion, highlighting recent volatility in its performance.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) was downgraded by equities research analysts at Oppenheimer from an "outperform" rating to a "market perform" rating in a research note issued on Thursday,Briefing.com Automated Import reports.

A number of other research firms have also recently commented on IFF. Stifel Nicolaus cut their price target on shares of International Flavors & Fragrances from $105.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. UBS Group cut their price target on shares of International Flavors & Fragrances from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday. Robert W. Baird cut their price target on shares of International Flavors & Fragrances from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Tigress Financial began coverage on shares of International Flavors & Fragrances in a report on Wednesday, June 4th. They set a "buy" rating and a $105.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.14.

International Flavors & Fragrances Trading Down 6.3%

NYSE IFF opened at $66.20 on Thursday. International Flavors & Fragrances has a fifty-two week low of $63.71 and a fifty-two week high of $106.77. The stock has a 50 day simple moving average of $75.15 and a two-hundred day simple moving average of $77.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.39 and a current ratio of 1.87. The stock has a market cap of $16.93 billion, a P/E ratio of -42.71, a price-to-earnings-growth ratio of 3.12 and a beta of 1.04.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.04. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.69 billion. International Flavors & Fragrances had a positive return on equity of 8.01% and a negative net margin of 3.48%. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. On average, analysts forecast that International Flavors & Fragrances will post 4.32 earnings per share for the current year.

Insider Buying and Selling at International Flavors & Fragrances

In other International Flavors & Fragrances news, EVP Stephen N. Landsman bought 12,000 shares of International Flavors & Fragrances stock in a transaction on Monday, May 19th. The stock was acquired at an average cost of $77.28 per share, with a total value of $927,360.00. Following the completion of the acquisition, the executive vice president owned 12,000 shares in the company, valued at approximately $927,360. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin O'byrne bought 4,500 shares of International Flavors & Fragrances stock in a transaction on Thursday, May 22nd. The shares were acquired at an average cost of $76.05 per share, with a total value of $342,225.00. Following the completion of the acquisition, the director owned 7,696 shares of the company's stock, valued at $585,280.80. The trade was a 140.80% increase in their position. The disclosure for this purchase can be found here. Insiders bought 21,350 shares of company stock valued at $1,636,712 in the last quarter. Insiders own 0.20% of the company's stock.

Institutional Trading of International Flavors & Fragrances

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of International Flavors & Fragrances by 11.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 84,265 shares of the specialty chemicals company's stock worth $6,525,000 after purchasing an additional 8,490 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of International Flavors & Fragrances in the first quarter worth $1,271,000. Royal Bank of Canada increased its stake in shares of International Flavors & Fragrances by 23.6% in the fourth quarter. Royal Bank of Canada now owns 361,073 shares of the specialty chemicals company's stock worth $30,529,000 after purchasing an additional 68,970 shares in the last quarter. Chicago Capital LLC purchased a new position in shares of International Flavors & Fragrances in the first quarter worth $688,000. Finally, Achmea Investment Management B.V. lifted its holdings in shares of International Flavors & Fragrances by 126.1% in the first quarter. Achmea Investment Management B.V. now owns 29,344 shares of the specialty chemicals company's stock worth $2,277,000 after buying an additional 16,368 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

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.

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