Morgan Stanley Issues Positive Forecast for International Flavors & Fragrances (NYSE:IFF) Stock Price

Key Points

• Morgan Stanley raised its price target on International Flavors & Fragrances (NYSE:IFF) from $93 to $95 and kept an overweight rating, implying about 20% upside from the current share price.
• Other analysts have also turned more positive on IFF, with several firms lifting targets and the stock now carrying a Moderate Buy consensus and an average target price of $91.16.
• The company recently reported better-than-expected quarterly earnings, posting $1.25 EPS versus $1.08 expected and revenue of $2.74 billion versus $2.64 billion expected, while director Paul J. Fribourg also made a large insider purchase.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) had its target price boosted by stock analysts at Morgan Stanley from $93.00 to $95.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the specialty chemicals company's stock. Morgan Stanley's price objective suggests a potential upside of 20.27% from the company's current price.

A number of other brokerages have also recently issued reports on IFF. UBS Group increased their price objective on shares of International Flavors & Fragrances from $75.00 to $86.00 in a research note on Thursday, May 7th. Benchmark initiated coverage on shares of International Flavors & Fragrances in a research report on Tuesday, June 9th. They issued a "buy" rating and a $100.00 price target on the stock. Jefferies Financial Group raised their price objective on International Flavors & Fragrances from $97.00 to $105.00 in a research note on Thursday, May 7th. Argus raised their price target on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Barclays raised their target price on shares of International Flavors & Fragrances from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, International Flavors & Fragrances currently has an average rating of "Moderate Buy" and a consensus target price of $91.16.

International Flavors & Fragrances Stock Performance

IFF opened at $78.99 on Wednesday. International Flavors & Fragrances has a 12-month low of $59.14 and a 12-month high of $84.45. The company has a market cap of $20.17 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.78 and a beta of 0.94. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33. The company's 50 day moving average is $75.11 and its 200 day moving average is $73.12.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.64 billion. During the same quarter last year, the company posted $1.20 EPS. The company's revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that International Flavors & Fragrances will post 4.56 EPS for the current year.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg purchased 260,000 shares of the firm's stock in a transaction on Monday, June 1st. The stock was bought at an average cost of $74.28 per share, with a total value of $19,312,800.00. Following the completion of the acquisition, the director owned 2,682,730 shares of the company's stock, valued at $199,273,184.40. The trade was a 10.73% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.07% of the stock is owned by insiders.

Hedge Funds Weigh In On International Flavors & Fragrances

A number of hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in International Flavors & Fragrances by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,315 shares of the specialty chemicals company's stock valued at $2,042,000 after buying an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of International Flavors & Fragrances by 15.7% during the first quarter. Jones Financial Companies Lllp now owns 3,976 shares of the specialty chemicals company's stock worth $309,000 after buying an additional 539 shares in the last quarter. Empowered Funds LLC grew its position in shares of International Flavors & Fragrances by 71.5% in the first quarter. Empowered Funds LLC now owns 10,454 shares of the specialty chemicals company's stock valued at $811,000 after purchasing an additional 4,358 shares in the last quarter. Focus Partners Wealth boosted its stake in International Flavors & Fragrances by 25.5% during the first quarter. Focus Partners Wealth now owns 7,527 shares of the specialty chemicals company's stock worth $584,000 after buying an additional 1,530 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in 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 valued at $46,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

About International Flavors & Fragrances

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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